Question 6 (1 point) Cheap Sheep Company developed the following information about its inventories in applying the lower of cost and net realizable value in valuing inventories: Product Cost NRV $ 70,000 $ 75,000 B 50.000 48,000 100.000 102.000 After Cheap Sheep Company values its inventory at the lower of cost or net realizable value, the value of the inventory reported on the balance sheet would be $ 220.000 $ 227 000 $ 218.000 $ 225.000