Inventory written down under lower-of-cost-or market may be written back up to original cost in a subsequent period under $\begin{array}{lrr}
&\text { \underline{\text{GAAP }} } & \text { \underline{\text{ IFRS }} } \
a. &\text { Yes } & \text { No } \
b. &\text { Yes } & \text { Yes } \
c. & \text {No } & \text { No } \
d. &\text { No } & \text { Yes }
\end{array}$

Question

Inventory written down under lower-of-cost-or market may be written back up to original cost in a subsequent period under $\begin{array}{lrr}
&\text { \underline{\text{GAAP }}   } & \text { \underline{\text{ IFRS  }} } \
 a. &\text { Yes } & \text { No } \
b. &\text {  Yes } & \text { Yes } \
 c. & \text {No } & \text { No } \
d. &\text {  No } & \text { Yes }
\end{array}$

Quizplus · Accepted Answer

The Answer of Inventory written down under lower-of-cost-or market may be written back up to original cost in a subsequent period under $\begin{array}{lrr}
&\text { \underline{\text{GAAP }}   } & \text { \underline{\text{ IFRS  }} } \
 a. &\text { Yes } & \text { No } \
b. &\text {  Yes } & \text { Yes } \
 c. & \text {No } & \text { No } \
d. &\text {  No } & \text { Yes }
\end{array}$

Inventory Written Down Under Lower-Of-Cost-Or Market May Be Written Back