Inventory Information:

Historical Cost $50,000

Replacement Cost $42,000

Net realizable value less normal profit $37,000

Estimated Selling Price $65,000

Estimated costs of complete $12,000

Estimated cost to make sell $6,000

According to IFRS, what dollar amount should be written down for decline in inventory value?

SHOW YOUR WORK AND SELECT one:

a.

$13,000

b.

$3,000

c.

$8,000

d.

. $14,500

e.

$15,500