Question: 6 . A company that prepares its financial statements using IFRS wrote down its inventory value by 2 0 , 0 0 0 at the

6. A company that prepares its financial statements using IFRS wrote down its inventory value by
20,000 at the end of year 1. In year 2, prices increased and the same inventory at the end of the year
was worth 30,000 more than its value at the end of the prior year.
Determine if the companys cost of sales was increased or decreased. If so, by what amount?

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