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A is corrent. The requirement is to identify the correct statement regarding valuing inventory in interim financial statements. ASC Topic 270 provides that inventory losses from market declines should be recognized in the interim statements when the decline in value occurs. A temporary market decline need not be recognized in the financial statements since no loss is expected to be incurred in the fiscal year. Therefore this answer is correct.
B is incorrect. ASC Topic 270 provides that inventory losses from market declines should be recognized in the interim statements when the decline in value occurs. A temporary market decline need not be recognized in the financial statements since no loss is expected to be incurred in the fiscal year.  
C is incorrect because only recoveries of losses on the same inventory in later interim periods of the same fiscal year may be recognized as gains in the later interim period. In such cases, the gains should not exceed the previously recognized losses.
D is incorrect. ASC Topic 270 provides that inventory losses from market declines should be recognized in the interim statements when the decline in value occurs. A temporary market decline need not be recognized in the financial statements since no loss is expected to be incurred in the fiscal year.