Bramble Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCNRV) basis in valuing inventories: If Bramble applies the LCNRV basis, the value of the inventory reported on the balance sheet would be $346000. $357000. $349000. $360000 The lower-of-cost-or-net-realizable-value basis of valuing inventories is an example of the historical cost principle. conservatism. comparability. consistency. The factor which determines whether or not goods should be included in a physical count of inventory is whether or not the purchase price has been paid. management's judgment. physical possession. legal title