Under IFRS, for purposes of applying the lower-of-cost-or-market (LCM) to inventory balances, “market value” is referring to:

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Under IFRS, for purposes of applying the lower-of-cost-or-market (LCM) to inventory balances, “market value” is referring to:

a. the current replacement cost of the inventory.
b. the net realizable value of the inventory.
c. the estimated selling price of the inventory.

Answer: b. the net realizable value of the inventory.

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