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Jenks Company Developed the Following Information About Its Inventories in Applying

Question 196

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Jenks Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: Jenks Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: If Jenks applies the LCM basis, the value of the inventory reported on the balance sheet would be A) $177,000. B) $179,000. C) $175,000. D) $181,000. If Jenks applies the LCM basis, the value of the inventory reported on the balance sheet would be


A) $177,000.
B) $179,000.
C) $175,000.
D) $181,000.

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