International Financial Reporting Standards $($IFRS$)$ do not allow companies that follow the accounting rules to use LIFO for financial reporting.$$ Your post should explain two things:

$1.$ Why do you think LIFO is not allowed by IFRS but is allowed by GAAP in the United States?

$2.$ Another area of accounting rules where there is a significant difference between US GAAP and International Financial Reporting Standards.

Please include the reference where you found information to form your opinion in $1$ and where you found the difference in $2.$ We are not so worried about the exact format of the reference but you do need to point where you got your information.$$ This original post should be made by Saturday.