ignment 5 Question 2 Under U.S. GAAP, inventory is carried at the lower of cost and market. In Canada and under IFRS, inventory is carried at the lower of cost and: O replacement cost O market value less a normal profit margin average sales price O net realizable value. Question Attempts: ly 315/3210) actice Assignment Gradebook ORION Downloadable eTextbook nment FULL SCREEN PRINTER VERSION BACK NEXT Question 11 On January 1, 2020, Hole Company purchased 600 of $1,000 face value, 8% bonds of Lid Corp., for $553,670, to yield 10%. The bonds, which mature on January 1, 2025, pay interest semiannually on January 1 and July 1. Assuming that Hole uses the straight-line method of amortization and that the bonds are accounted for under the amortized cost method, the net carrying value of the bonds should be shown on Hole's December 31, 2020, statement of financial position at O $553,670 $600,000 O $557,351 $562,936 SAVE FOR LATER SUBMIT ANSWER Question Attempts: 0 of 1 used