Alfalfa Company developed the following information about its inventories in applying the lower- of-cost-or-market (LCM) basis in valuing inventories: Product Cost Market Value A $112.000 $100,000 B. $80,000 $96,000 C $150,000 $165,000 If Alfalfa applies the LCM basis, the value of the inventory reported on the balance sheet would be: $330.000 $12,000 $342.000 $361,000