Which of the following is not true regarding consolidations under IFRS?

Multiple Choice

While both IFRS and GAAP require a firm to consolidate entities it controls, IFRS defines control more broadly than does GAAP.

On the income statement, noncontrolling interest is shown as a deduction from total entity $($parent $+100\%$ subsidiary$)$ consolidated earnings.

A parent and a subsidiary are permitted to have different accounting policies.

The noncontrolling interest is classified on the balance sheet in the stockholders$$ equity section shown separate from the equity of the parent.Bremmer Company's functional currency is the Euro. On February $1,20$X$1,$ when the exchange rate is $$1\mathrm{.}20$ per Euro, Bremmer purchases $100$ units of inventory for a total purchase price of $4,300$ Euros. Bremmer sells half of the inventory on March $24$ and the other half on April $14.$ The exchange rate is $$1\mathrm{.}17$ on March $24$ and $$1\mathrm{.}21$ on April $14.$

If Bremmer were to keep records denominated in dollars, it would recognize the sale of inventory on March $24,$ by crediting cost of goods sold for:

Multiple Choice

$$2,601\mathrm{.}50.$

$$2,558\mathrm{.}50.$

$$2,580\mathrm{.}00.$

$$2,515\mathrm{.}5$