IFRS permits an entity to reverse inventory write-downs in certain situations, whereas U.S. GAAP does not.

Name: IFRS permits an entity to reverse inventory write-downs in certain situations, whereas U.S. GAAP does not.
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IFRS allows an entity to reverse inventory write-downs if there has been a change in the circumstances that caused the write-down, whereas under U.S. GAAP, once inventory has been written down, it cannot be reversed even if the circumstances change.

IFRS Permits an Entity to Reverse Inventory Write-Downs in Certain