Question: A company determined the following values for its inventory as of the end of its fiscal year: Historical cost $100,000 Current replacement cost 70,000 Net

A company determined the following values for its inventory as of the end of its fiscal year:

Historical cost $100,000 Current replacement cost 70,000 Net realizable value 90,000 Net realizable value less a normal profit margin 85,000 Fair value 95,000 Under IFRS, what amount should the company report as inventory on its balance sheet?

a. $70,000

b. $85,000

c. $90,000

d. $95,000

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