Based on inventory accounting, differences between U.S. GAAP and IFRS continue to exist.

Based on inventory accounting, differences between U.S. GAAP and IFRS continue to exist.

As per the following case (read below)

-What are the differences and are they simply a difference between principles-based and rules-based financial reporting standards?

Case 4-1 Bessrawl Corporation

*Instructions

• at least 200 words, formatted and cited in proper APA style with support from at least 2 academic sources.