Which of the following is false in describing the measurement of inventory under U.S. GAAP? Firms that use FIFO would be less likely to recognize inventory write-downs than firms using LIFO or weighted average cost. O IF NRV is lower than replacement cost, then the market in lower of cost or market should be NRV. IF NRV ks greater than replacement cost and replacement cost is less than NRV less normal profit margin, then market is NRV less normal profit margin o It market is lower than cost, the inventory is written down to market. Recovery in value in subsequent periods are not recognized