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14. Which of the following is NOT correct? A) IFRS only permits the use of the LIFO inventory method. B) FIFO Inventory = LIFO Inventory

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14. Which of the following is NOT correct? A) IFRS only permits the use of the LIFO inventory method. B) FIFO Inventory = LIFO Inventory + LIFO Reserve C) Depreciation expense is an example of systematic allocation of a cost. D) The write down of inventory under the lower of cost or net realisable value results in a decrease of the value of the ending inventory

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