What Is the Definition of Net Realizable Value (NRV)

Multiple Choice

What is the definition of Net Realizable Value (NRV) ?

A) The amount that an item of inventory could be sold for in an arm's length transaction.
B) The estimated selling price less all further costs of production and costs yet to be incurred in marketing, selling and distributing the item of inventory.
C) The expected value in use of an inventory item.
D) The aggregate costs incurred to date to produce the item of inventory, plus all further costs of production and costs yet to be incurred in marketing, selling and distributing it.