A retailer collected the following information about its inventories to apply the lower of cost and net realizable value in valuing its three products: Product X - $65,000 cost and $68,000 NRV, Product Y - $45,000 cost and $41,000 NRV, and Product Z - $105,000 cost and $98,000 NRV. After the retailer values its inventory at the lower of cost or net realizable value, the amount reported on the balance sheet would be:

Select one:

a.$ 215,000

b.$ 204,000

c.$ 207,000

d.$ 220,000

e.$ 205,000