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Find the value of the inventory reported on balance sheet

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Reference no: EM133150005

Question - Bonita Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCNRV) basis in valuing inventories:

Product

Cost

Net
Realizable Value

A

$122000

$125000

B

75000

70000

C

160000

164000

If Bonita applies the LCNRV basis, find the value of the inventory reported on the balance sheet?

Reference no: EM133150005

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