Bramble Company developed the following information about its inventories in applying the lower of-cost-or-net realizable value (LCM) basis in valuing inventories: Product Cost A $117000 Net realizable value $120000 79000 158000 B 82000 150000 If Bramble applies the LCNRV basis, the value of the inventory reported on the balance sheet would be O $349000 O $346000 O $360000 O $357000 1 Vaughn Shutters has the following inventory information Nov. Inventory 20 units @ $7.00 Purchase 130 units $8.50 Purchase 40 units @ $8.50 25 Purchase 70 units @ $9.20 8 17 A physical count of merchandise inventory on November 30 reveals that there are 110 units on hand. Assume a periodic inventory system is used. Assuming that the specific identification method is used and that ending inventory consists of 25 units from each of the three purchases and 30 units from the November 1 inventory cost of goods sold is O $1446 O $1392 $1424 $1434 Attempts: 0 of 1 used Submit Answer Suve for Late