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A fundamental difference between U.S. GAAP and IFRS is that a. teversal of inventory write-downs is permitted under IFRS; however, reversal of inventory writedowns is
A fundamental difference between U.S. GAAP and IFRS is that a. teversal of inventory write-downs is permitted under IFRS; however, reversal of inventory writedowns is prohibited under US. G.ANP. b. distribution costs are included in oxst of sales under U.S. GAAP; however, distribution costs are excluded from cost of sles under IFRS. c. inventory is generally valued at the lower of cost of market under IFRS; bowever, inventory is generally valued at the lower of cost or net realizable value under U.S. GAAP. d. marketing costs are included in cost of sales under US, GAAP; however, marketing costs are excluded from cost of sales under IFRS
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