Question: Inventory Valuation Methods Which statement about LIFO ( Last - In , First - Out ) method is correct? Select ALL that apply. It is

Inventory Valuation Methods
Which statement about LIFO (Last-In, First-Out) method is correct? Select ALL that apply.
It is not allowed under IFRS.
It results in lower COGS during inflationary periods.
It matches current costs with current revenues.
It is permitted under both US GAAP and IFRS.
Inventory Valuation Methods Which statement about LIFO (Last-In, First-Out) method is

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