When Determining the International Aspects of Inventory Valuation

question 177

Multiple Choice

When determining the international aspects of inventory valuation:

• A) IFRS permits the use of LIFO.
• B) it can be difficult to compare a U.S. company against a foreign company if different inventory methods are used.
• C) inventory valuation is the only major difference between GAAP and IFRS.
• D) IFRS prohibits the use of FIFO.