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MC: Under U.S. GAAP, inventory is carried at the lower of cost and market. In Canada and under IFRS, inventory is carried at the lower

MC: Under U.S. GAAP, inventory is carried at the lower of cost and market. In Canada and under IFRS, inventory is carried at the lower of cost and:

replacement cost

market value less a normal profit margin

average sales price

net realizable value.

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