stion 13 1 points Save Answer A company that prepares its financial statements according to international Financial Reporting Standards (IFRS) can use all of the same inventory valuation methods as a company that prepares its statements under U.S. GAAP True False Question 13 of 40 11 sve Sresponse Question 14 Under the dollar value LIFO retail method to determine if the increase in the value of inventory was due to an increase in quantities: Inflate beginning inventory amount to end of year prices and compare to ending inventory amount. Deflate the ending inventory amount to beginning of year prices and compare to the beginning inventory amount. Compare beginning and ending inventory amounts after adjusting both amounts to the average price level for the year. Compare beginning and ending inventory amounts at current year prices. Question 15 A reduction in reported inventory due to market value falling below cost would reduce net income in the current period. True False Question 16 A change from LIFO to any other inventory me True False dis accounted for retrospectively. Question 1 Question 17 In a period when costs are rising and inventory quantities are stable, the inventory method that would result in the highest ending inventory is: 1 points Moving average FIFO LIFO Weighted average. A Movie T he Question 18 Net realizable value is selling price less costs of completion, disposal, and transportation True False UULI YULON SAVUSTUSSE.