I'm teaching myself Möbius inversion.
From Wikipedia it appears if $F$ and $G$ are complex-valued then
$G(x)=\sum\limits_{1 \le n \le x} F(x/n)$
implies
$F(x)=\sum\limits_{1 \le n \le x} \mu(n) G(x/n)$
I was wondering if the implication works the other way around? That is, can we replace the "implies" with "iff"? If not, are there any simple counterexamples?
Yes, it is an iff clause.
In fact, one can say something stronger:
This is the strongest statement that I know, and is proven by considering convolutions and Dirichlet inverses. (For example, I think it's proven in Apostol's Intro to Analytic Number Theory)