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Practice Question 8 Under U.S. GAAP, inventory is carried at the lower of cost and market. In Canada and under IFRS, inventory is carried at

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Practice Question 8 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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