Question 3 4 pts A company has inventory that cost $100,000. At the end of the year the market price of the inventory is $30,000. The inventory should be recorded on the balance sheet at, $100,000 because it conforms to the cost principle $30,000 because it conforms to the conservatism principle $65,000 because it is the average of both cost and market and conforms to business reality $70,000 because it is the difference between the two values and hence is the most acceptable to investors Any of the above; a business can chose which value it wants to report.