All of the Following Statements Are True Except

All of the following statements are true except:

A) Both U.S.GAAP and international financial reporting standards IFRS) require the use of the lower-of-cost- or-market rule to value inventories.
B) U.S.GAAP defines market value as replacement cost.
C) IFRS uses net realizable value with no upper or lower limits imposed.
D) Write-downs of inventory can be reversed in later periods under U.S.GAAP.