Which inventory cost flow assumption is allowed under U.S. GAAP but not under IFRS? Explain why some

Question:

Which inventory cost flow assumption is allowed under U.S. but not under IFRS? Explain why some U.S. companies will lobby strongly to keep this method as an allowable alternative.
GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...