Air France–KLM (AF), a Franco-Dutch company, prepares its financial statements according to International Financial Reporting Standards. AF’s financial statements and disclosure notes for the year ended December 31, 2019, are available in Connect. This material is also available under the Finance link at the company’s website (www.airfranceklm.com).

Required:
What method does the company use to value its inventory? What other alternatives are available under IFRS? Under U.S. GAAP?