For Interim Reporting, Which of the Following Statements Is True

Multiple Choice

For interim reporting, which of the following statements is true?

A) ​Under a standard cost system, unplanned or unanticipated variances should be deferred at interim reporting dates.
B) ​Under the LIFO method, recognition of layer liquidations, thought to be temporary, are postponed by using replacement cost in the calculation of interim cost of goods sold.
C) ​Under the lower of cost or market determination of ending inventory, a gain may not be recognized in an interim period.
D) ​All of these statements are true.