Under IFRS,inventory write-downs due to using the lower-of-cost-or-market rule are allowed to be reversed in a future year if the market value subsequently increases.

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According to IFRS, inventory write-downs can be reversed in a future year if the market value subsequently increases, as long as the reversal does not exceed the original write-down amount. This is in contrast to US GAAP, which does not allow reversals of inventory write-downs.

Under IFRS,inventory Write-Downs Due to Using the Lower-Of-Cost-Or-Market Rule Are