Identify any differences between U.S. GAAP and International Financial Reporting Standards in the methods allowed to value

Question:

Identify any differences between U.S. and International Financial Reporting Standards in the methods allowed to value inventory.

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...