WHICH OF THE FOLLOWING STATEMENTS REGARDING INVENTORY VALUATION I...

105.

Which of the following statements regarding inventory valuation is most accurate? A. IFRS defines market value as net realizable value less a normal profit margin. B. Both IFRS and U.S. GAAP allow the reversal of write-downs back to the original cost. C. Both IFRS and U.S. GAAP allow agricultural inventories to be valued at net realizable value.