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-URCES Multiple Choice Question 149 Swifty Corporation developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value(LCNRV) basis in valuing inventories: Product Cost Market

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-URCES Multiple Choice Question 149 Swifty Corporation developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value(LCNRV) basis in valuing inventories: Product Cost Market $87000 $91000 B 61000 58000 122000 123000 After Swifty Corporation applies the LCNRV rule, the value of the inventory reported on the balance sheet would be $270000 $275000 $272000 $267000

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