Constable Company developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value (LCNRV) basis in valuing inventories: Product Cost A $116,023 NRV $121,513 80,013 75.286 160,227 162,145 After Constable Company applies the LCNRV rule, the value of the inventory reported on the balance sheet would be

Constable Company developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value (LCNRV) basis in valuing inventories: After Constable Company applies the LCNRV rule, the value of the inventory reported on the balance sheet would be