IFRS Specifies That, in the Context of Inventories, Market Means

Multiple Choice

IFRS specifies that, in the context of inventories, market means

A) replacement cost, only.
B) net realizable value, only.
C) replacement cost, except that market may not exceed net realizable value and may not be less than net realizable value reduced by a normal profit margin.
D) replacement cost, except that market may not exceed net realizable value and may not be less than present value of future cash flows.
E) replacement cost, except that market may not exceed net realizable value and may not be less than the total amount of undiscounted future cash flows.