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.

Question

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.

Quizplus · Accepted Answer

The Answer of 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.

Jenks Company Developed the Following Information About Its Inventories in Applying