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Jenks Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: Product Cost Market

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Jenks Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: Product Cost Market . $49,000 $51,000 B 37,000 38,000 C 82,000 81,000 What is the value of the Inventory reported on the Balance Sheet assuming that Jenks makes a LCM adjustment? Multiple Choice $170,000 $168,000 $167.000 $175,000

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