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At the end of the year, Ian Co. determined its inventory to be $258,000 on a FIFO (first-in, first-out) basis. The current replacement cost of this inventory was $230,000. Ian estimates that it could sell the inventory for $275,000 at a disposal cost of $14,000. If Ian's normal profit margin for its inventory was $10,000, what would be its net carrying value under IFRS?
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