Cheap Sheep Company developed the following information about its inventories in applying the lower of cost and net realizable value in valuing inventories: Product Cost$\_$ NRV A $ $78,000$ $ $75,000$ B $50,00048,000$ C $100,000102,000$After Cheap Sheep Company values its inventory at the lower of cost or net realizable value, the value of the inventory reported on the balance sheet would be$*$$ $227,000.$$ $223,000.$$ $225,000.$$ $218,000.$