d Unless otherwise indicated, exercises and problems should be solved based on IFRS. 2. A company determined the following values for its inventory as of the end of its fiscal year: Historical cost . . . Current replacement cost. Net realizable value. . .. Net realizable value less a normal profit margin . Fair value. $50,000 35,000 45,000 40,000 48,000 International Financial Reporting Standards: Part I 163 What amount should the company report for inventory on its balance sheet? a. $35,000. b. $40,000 c. $45,000 d. $48,000