A8-12 Lower of Cost or NRV and Foreign Currency: Telma Lid. is a public company incorporated in Alberta and traded on the Toronto Stock Exchange. In December 20X6. Telma management decided that cost exceeded NRV for a significant portion of the inventory. Consequently, the company wrote the Class A inventory down from $350,000 to $150,000 and the Class B inventory down from $425,000 to $325.000. In June 20X7, the value of Class B inventory rose to $365,000. Half of the Class B was sold for $190,000 in November of that year. In March 20X8, the Class A inventory was sold in bulk for a price of #100.000. At the time of the sale, {1 - Con$1.70. The buyer paid Telma's invoice one month later, when 1 - Cdn$1.62