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Coronado Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. Net realizableProductCost value A$112000$125000B 80000
Coronado Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. Net realizableProductCost value A$112000$125000B 80000 75000C 155000165000
post | cost | net realized value |
a | 112000 | 125000 |
b | 80000 | 75000 |
c | 155000 | 165000 |
If Coronado applies the LCNRV basis, the value of the inventory reported on the balance sheet would be
a)$347000.
b)$365000.
c)$342000.
d)$370000.
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