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Suppose that Ivanhoe Depot developed the following information about its inventories in applying the lower-of-cost-or-netrealizable-value (LCNRV) basis in valuing inventories: After Ivanhoe Depot applies the

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Suppose that Ivanhoe Depot developed the following information about its inventories in applying the lower-of-cost-or-netrealizable-value (LCNRV) basis in valuing inventories: After Ivanhoe Depot applies the LCNRV rule, the value of the inventory reported on the balance sheet will be $368000. $364000. $376000. $372000

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