N a 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 b IFRS rules do not apply to companies headquartered in the United States, only to those companies with headquarters outside the U.S. C IFRS rules do not pertain to international companies with U.S. subsidiaries d. IFRS rules pertain to international companies only and have no effect on U.S. companies