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Crane Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. If Crane applies the LCNRV

Crane Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. If Crane applies the LCNRV basis, the value of the inventory reported on the balance sheet would be $346000 $348000 $369000. $367000

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