题目没说什么准则，默认IFRS？

问题如下：

Question As a result of the reversal of the write-down, the company's Year 2 financial statements should report a decrease in cost of sales of:

选项：

A.€ 0.00 B.€ 3,000.00 C.€ 8,000.00

解释：

Solution

1. Incorrect because US GAAP prohibit the reversal of write-downs and not IFRS.

2. Correct because IFRS state that inventories shall be measured (and carried on the balance sheet) at the lower of cost and net realizable value. In each subsequent period, a new assessment of net realizable value is made. Reversal (limited to the amount of the original write-down) is required for a subsequent increase in value of inventory previously written down. The reversal of any write-down of inventories is recognized as a reduction in cost of sales (reduction in the amount of inventories recognized as an expense).

   On 31 December of Year 1, Inventory is carried on the balance sheet at min(Cost, Net realizable value) = min(€100,000, €97,000) = €97,000.
   The write down of inventory equals the Cost of inventory less the Net realizable value = €100,000 – €97,000 = €3,000.

   On December 31 of Year 2, the net realizable value (€105,000) is higher than the previous level, exceeding also the cost of inventory. The reversal of any write-down of inventories is recognized as a reduction in cost of sales and is limited to the amount of the original write-down, meaning €3,000.

3. Incorrect because it computes the reversal of inventory write-down (which is recognized as a reduction in cost of sales) as the difference between the net realizable value at the next assessment date and its previous level (€105,000 – €97,000 = €8,000) while the reversal of any write-down of inventories is limited to the amount of the original write-down.

Analysis of Inventories

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