The example is same as that in the question 15.

Darcy Industries had the following inventory values on Dec. 31, 2012.

Inventory cost (Using FIFO) $1,500

Inventory replacement cost $1,320

Inventory NRV (net realizable value) $1,350

Inventory profit margin $ 300

Under IFRS, what is the impairment loss reported on the income statement?

Multiple Choice

$0

$150

$180

$450