What is an inventory write-down and an inventory recovery

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25 million euros) was released to the income statement (recoveries) for inventory provisions taken in earlier years."

a. Is Unilever a manufacturer or a retailer, and how do you know?

b. Does Unilever use the FIFO or LIFO inventory assumption, and how do you know?

c. What is an inventory write-down and an inventory recovery? Record the entries made by
Unilever at the end of 2008 for the write-down and recovery.

d. How would Unilever's accounting have been different if it used U.S. GAAP instead of IFRS?

Reference no: EM131410881

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