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The Sandman Company paid $100 for inventory it intended to sell for $150. Sandman received a $10 rebate from the vendor one month after purchase.

The Sandman Company paid $100 for inventory it intended to sell for $150. Sandman received a $10 rebate from the vendor one month after purchase. However, due to a decrease in demand, the item's current market value is $95.

What amount should be Inventory on the balance sheet, using the Lower-of-Cost-or-Market method?

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