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

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Novak Corp. developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: Product Market Cost $139000 $146000 A 98000 93000 195000 198000 C If Novak Corp. applies the LCM basis, the value of the inventory reported on the balance sheet would be $442000 $432000 $437000 $427000

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