Jenks Company Developed the Following Information About Its Inventories in Applying

Multiple Choice

Jenks Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: $\begin{array}{lrr}\text { Product } & \text { Cost } & \text { Market } \\\mathrm{A} & \$ 114,000 & \$ 120,000 \\\mathrm{~B} & 80,000 & 76,000 \\\mathrm{C} & 160,000 & 162,000\end{array}$ If Jenks applies the LCM basis, the value of the inventory reported on the balance sheet would be

A) $354,000.
B) $358,000.
C) $350,000.
D) $362,000.