Which one of the following inventory procedures cannot be applied for interim reporting?

A) estimation of inventory using gross profit method
B) delayed recognition of permanent losses from inventory market declines
C) delayed recognition of temporary inventory market declines
D) delayed recognition of temporary LIFO liquidations

Interim Reporting

The financial reporting on a company's activities during a portion of the fiscal year, such as quarterly or semi-annual reports.

Inventory Procedures

Established methods for managing and controlling inventory levels, valuation, and turnover.

Gross Profit Method

An inventory valuation technique estimating the cost of goods sold and the ending inventory, based on the gross profit margin.