Question: QUESTION 10 Entity D developed the following information about its inventories in applying thelower-of-cost-or-net-realizable-value(LCNRV) basis in valuing inventories: Product-- Cost---------------NRV A----------- $114,000-------$120,000 B--------------80,000-----------76,000 C--------------160,000--------162,000 After

QUESTION 10

  1. Entity D developed the following information about its inventories in applying thelower-of-cost-or-net-realizable-value(LCNRV) basis in valuing inventories:
  2. Product-- Cost---------------NRV
  3. A----------- $114,000-------$120,000
  4. B--------------80,000-----------76,000
  5. C--------------160,000--------162,000
  8. After Entity D applies the LCNRV rule, the value of the inventory reported on the balance sheet would be

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