Which of the following statements is true? The SEC dictates the inventory costing method a company must use for accounting purposes. The IRS dictates the inventory costing method a company must use for accounting purposes. GAAP dictates the inventory costing method a company must use for accounting purposes. Company management selects the inventory costing method a company will use for accounting purposes.

Which of the following statements is true? The SEC dictates the inventory costing method a company must use for accounting purposes. The IRS dictates the inventory costing method a company must use for accounting purposes. GAAP dictates the inventory costing method a company must use for accounting purposes. Company management selects the inventory costing method a company will use for accounting purposes