Jenks Company developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value (LCNRV) basis in valuing inventories: Product Cost NRV A $115,000 $125,000 B $95,000 $75,000 C $175,000 $180,000 After Jenks applies the LCNRV rule, the value of the inventory reported on the balance sheet would be:

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01-04-2021
Business

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Jenks Company developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value (LCNRV) basis in valuing inventories: Product Cost NRV A $115,000 $125,000 B $95,000 $75,000 C $175,000 $180,000 After Jenks applies the LCNRV rule, the value of the inventory reported on the balance sheet would be:

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