Kindly feed me back regarding the reversal of any previuos writedown
that had been made in a previuos period. Is it possible to reverse a
wirte down for inventory made in 2007 to be reversed in 2008
Noting that I couldn’t reach any specific paragraph in the standards
relatated to this issue.
and how this could be made via entries.
But I think if it is possible to reverse wirtdown made in 2007 to be
reversed in 2008, it may distort results over accounting periods.
Thanks in advance for your prompt reply.
The writedown to inventory in 2007 …