Which of the following describes an IASB requirement that the FASB has adopted as part of the short-term convergence project? LO4

a. Following the IASB format for presentation of a statement of comprehensive income.

b. Treating items such as idle facility expense, excessive spoilage, and rehandling costs as current period expenses rather than as part of the cost of inventory.

c. Using the cost recovery method when the percentage of completion method is not appropriate for long-term construction contracts.

d. Eliminating LIFO as an acceptable inventory cost flow method.