Does IFRS use lower of cost or market?

Related questions

1. Why LIFO is not recommended by IAS?
2. What is the difference between extraordinary items and exceptional items?
3. Is money an asset?
4. What is included in continuing operations?
5. What are the three inventory costing methods?
6. What is EPS from continuing operations?
7. What is net salary?
8. Why is LIFO banned in IFRS?
9. What is a recurring cost example?
10. How do u find net income?

Tags

1. #third
2. #first
3. #applies
4. #methods
5. #value
6. #weighted
7. #historical
8. #realizable
9. #permitted
10. #inventory
11. #allows
12. #second
13. #average
14. #applying
15. #period
16. #entire
17. #lower