Question 40 Answer saved Marked out of 100 Flag question Which of these statements is/are correct? I Under IFRS, Inventory is valued at the lower of cost and net realizable value. Il Under IFRS, Inventory subsequent reversals for inventory adjustments are not allowe Select one: a. Only II is correct. O b. Only I is correct. O c. Both (1) and (II) are correct. O d. Both (1) and (11) are incorrect. Clear my choice