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How are US.GAAP and IFRS different in the methods allowed to value inventory? Explain the lower of cost and net realizable value approach to valuing

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How are US.GAAP and IFRS different in the methods allowed to value inventory? Explain the lower of cost and net realizable value approach to valuing inventory. Both the gross profit method and the retail inventory method provide a way to estimate ending inventory. What is the main difference between the two estimation techniques

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