All of the following are key differences between GAAP and IF

All of the following are key differences between GAAP and IFRS with respect to accounting for inventories except the:

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definition of the lower-of-cost-or-market test for inventory valuation differs between GAAP and IFRS.

average-cost method is prohibited under IFRS.

inventory basis determination for write-downs differs between GAAP and IFRS.

guidelines are more principles-based under IFRS than they are under GAAP

The correct answer is Option B i.e. average-cost method is prohibited under IFRS.