2. Under IFRS rules, companies do not calculate a ceiling or floor when determining inventory market. The reason for this anomaly with U.S standards is IFRS rules require the use of LCNRV when valuing inventory, not LCM. IFRS rules do not apply to companies headquartered in the United States, only to those companies with headquarters outside the U.S. IFRS rules do not pertain to international companies with U.S. subsidiaries. a b. . d. IFRS rules pertain to international companies only and have no effect on U.S. companies.