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15-04-2020
Business

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A company that prepares its financial statements according to International Financial Reporting Standards (IFRS) can use each of the following inventory valuation methods except: a. All of these methods can be used. b. Average cost. c. LIFO. d. FIFO.

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ewomazinoade ewomazinoade

16-04-2020

Answer:

c. LIFO.

Explanation:

The last in first out inventory system isn't allowed by the ifrs but it is permitted under the US GAAP.

I hope my answer helps you

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