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Calculate amount reported on the balance sheet would be

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Question: A retailer collected the following information about its inventories to apply the lower of cost and net realizable value in valuing its three products: Product X - $65,000 cost and $68,000 NRV, Product Y - $45,000 cost and $41,000 NRV, and Product Z - $105,000 cost and $98,000 NRV. After the retailer values its inventory at the lower of cost or net realizable value, the amount reported on the balance sheet would be?

Reference no: EM132745086

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