In its 2008 annual report the Unilever Group, which published IFRS-based financial statements, reported the following in the inventory footnote (in million euros).

"During 2008, 246 million euros (2007: 177 million euros) was charged to the income statement for damaged, obsolete, and lost inventories. In 2008, 23 million euros (2007: 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?

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2008 2007 Raw materials and consumables Finished goods and goods for resale Total inventories 1,437 2,452 1,406 2,488 3,894 3,889