What amount of inventory should be reported under U.S. GAAP?

Question 1 (3 points) The following information pertains to inventory held by a company at December 31, 2011. Histortc cost Replacement cost Net realizable value Nomal ofit Mar m $25,000 $20,000 $21,000 What amount of inventory should be reported under U.S. GAAP? O $16,000 C) $21,000 C) $20,000 C) $25,000