nd 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 $50,000 Current replacement cost. 35,000 Net realizable value. 45,000 Net realizable value less a normal profit margin 40,000 Fair value... 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.