The Following Information Pertains to Inventory Held by a Company

The following information pertains to inventory held by a company at December 31, 2011. $$\begin{array} { | l | r | } \hline \text { Historical cost } & \$ 25,000 \\\hline \text { Replacement cost } & \$ 20,000 \\\hline \text { Net realizable value } & \$ 21,000 \\\hline \text { Normal profit Margin } & 20 \% \\\hline\end{array}$$
-What amount of inventory should be reported under IFRS?

A) $25,000
B) $21,000
C) $20,000
D) $4,000
E) $5,000 According to IFRS, inventory will be reported at lower of cost or net realizable value.