Which of the following is a similarity between GAAP and IFRS concerning accounting for inventories?

O Both standards allow the use of both lower$-$of$-$cost$-$or net realizable value and lower$-$of$-$cost$-$or$-$market. O Both standards allow for reversals of inventory write$-$downs.

O Inventory acquisitions are accounted for at historical cost.

O All of these are similarities similarity between GAAP and IFRS concerning accounting for inventories.