Alfalfa Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories: 
If Alfalfa applies the LCNRV basis, the value of the inventory reported on the balance sheet would be
A) $343,000.
B) $347,000.
C) $358,000.
D) $362,000.
Correct Answer:
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