A company determined the following information for its FIFO basis inventory at the end of an interim period on June 30, Year Historical cost $80,000 Net realizable value (NRV) 77,000 Current replacement cost 76,000 Normal profit margin 2,000 The company expects that on December 31, Year 2, the inventory's NRV will be at least $81,000. What amount of inventory should the company report in its interim financial statements under IFRS and under U.S. GAAP on June 30, Year 2? IFRS U.S. GAAP $77,000 $80,000 $80,000 $81,000 $77,000 $77,000 $80,000 $80,000