Question 26 Which statement addresses the LIFO conformity rule? O If a company uses LIFO for book purposes, it must also use LIFO for tax purposes O Companies may only use LIFO if they believe that costs will decrease over time If a company uses LIFO for tax purposes, it must also use LIFO for book purposes O Companies must use the same inventory method every year DQuestion 27 Using the lower-of-cost-or-market rule of valuing inventory in an application of: O Consistency O Conservatism O Matching O Full disclosure 3.33 3.33