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Under IAS 2, what should the Balance Sheet report for Inventory? Use the following inventory information from GlobeKom Ltd.: Historical cost$12,000 Replacement cost$ 9,000 Expected

Under IAS 2, what should the Balance Sheet report for Inventory? Use the following inventory information from GlobeKom Ltd.: Historical cost$12,000 Replacement cost$ 9,000 Expected selling price$10,000 Expected selling cost$ 500 Normal profit margin10 percent of selling price

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