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Multiple Choice Question 149 Concord Corporation developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value(LCNRV) basis in valuing inventories: Product Cost Market A

Multiple Choice Question 149 Concord Corporation developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value(LCNRV) basis in valuing inventories: Product Cost Market A $91000 $96000 B 64000 61000 C 128000 130000 After Concord Corporation applies the LCNRV rule, the value of the inventory reported on the balance sheet would be $283000. $287000. $290000. $280000image text in transcribed

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