QUESTION 10

1. The following information relates to the year-end inventories of Dominiques Furniture:

   Net Realizable Value (NRV): $135,000

   Replacement Cost (RC): $101,000

   Value at FIFO Cost (C): $105,000

   Identify the various inventory values that could be used to determine 

   business income for tax purposes. (Please do this question according to the tax rules of 2020-2021 in Canada)