(Answered) Under us gaap a 1000 provisions is made to under the lower

Accounting

Under US GAAP, a $1000 provisions is made to under the lower of cost or market concept of inventory. under IFRS, a similar $1000 inventory valuation provision is made under the IFRS terminology of a net realizable value provision. subsequent to these $1000 provisions, it is determined that $400 of the provisions is no longer required. indicate below the amount, if any, of the $400 can be recognized under US GAAP and under IFRS?

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