没有明白什么意思， 对应的知识点在哪儿

问题如下：

Question

If the company is using International Financial Reporting Standards (IFRS) instead of US GAAP, its cost of goods sold (in millions) is most likely:

选项：

A.$0.3 higher.

B.$0.3 lower.

C.the same.

解释：

Solution

1. Incorrect. The write-down is same under US GAAP and IFRS.

2. Incorrect. The write-down is same under US GAAP and IFRS.

3. Correct. Under both IFRS and US GAAP, the inventory would be written down to its net realizable value ($4.1 million); therefore, the costs of goods sold would be the same. There are some exceptions under US GAAP for inventory valued using the retail method, which would not apply to a manufacturing company or for inventory valued under LIFO.

Analysis of Inventories

• describe the measurement of inventory at the lower of cost and net realisable value and its implications for financial statements and ratios