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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: After Jenks applies the LCNRV rule, the value of the inventory reported on the balance sheet would be a. $354,000. b. $358,000. c. $350,000. d. $362,000..

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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: After Jenks applies the LCNRV rule, the value of the inventory reported on the balance sheet would be a. $354,000. b. $358,000. c. $350,000. d. $362,000.

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