Briefly explain the differences between U.S. GAAP and International Financial Reporting Standards (IFRS) in the application of the lower of cost or net realizable value rule for valuing inventory.

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The Answer of Briefly explain the differences between U.S. GAAP and International Financial Reporting Standards (IFRS) in the application of the lower of cost or net realizable value rule for valuing inventory.

Briefly Explain the Differences Between U