Marked out of $1\mathrm{.}00$

GAAP vs IFRS. Regarding measurement models for inventory, permit the last$-$in$-$first$-$out $($LIFO$).$

Answer

a$.$ Only U$.$S$.$ GAAP

b$.$ Only IFRS

c$.$ Both U$.$S$.$ GAAP and IFRS

Clear my choice

Question $39$

Not yet answered

Marked out of $1\mathrm{.}00$

GAAP vs IFRS. Regarding measurement models for inventory, permit reversals of prior write$-$downs.

Answer

a$.$ Only U$.$S$.$ GAAP

b$.$ Only IFRS

c$.$ Both U$.$S$.$ GAAP and IFRS