Inventory valuation

Texas had a herd of cattle, including heifers and steers that have not yet been weaned. Texas does not anticipate keeping any of the heifers for its breeding herd.
The accumulated cost of the heifers and steers was $50,000. The expected selling costs were $2,000. The livestock’s local market price for these heifers and steers
was $70,000. Determine the inventory valuation for Texas using US GAAP and IFRS