The requirement that companies use the same cost flow assumption of all goods of a similar nature is found in 
IFRS:
Correct Answer:
Verified
Q165: LIFO can be used
A) under neither GAAP
Q166: The specific identification method
A) cannot be used
Q167: The only acceptable cost flow assumptions under
Q175: Inventory accounting under IFRS differs from GAAP
Q176: Waegelein Company identifies the following items for
Q177: The major IFRS requirements related to accounting
Q181: Shellhammer Company's inventory records show the following
Q182: Lester Company sells many products. Hackenberry is
Q183: Garner Supply Company reports net income of
Q184: Shanrock Company uses the periodic inventory method
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