Which of the following is not true (i.e., false) regarding inventories when their replacement cost declines below acquisition cost?

	A.	The journal entry to record the inventory impairment results in a loss and a new balance sheet carrying value that is the lower of cost or market value.
	B.	Both U.S. GAAP and IFRS require firms to write down inventories when their replacement cost, or market value, declines below acquisition cost.
	C.	IFRS permits firms to reverse previous impairments, up to the amount of the original acquisition cost of the inventory, if the circumstances that caused the inventory impairment no longer exist.
	D.	Accountants refer to the inventory as impaired and to this valuation as the lower-of-cost-or-market basis.
	E.	U.S. GAAP permits firms to recognize subsequent value increases, as long as the new value remains less than the original acquisition cost.