Never Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCNRV) basis in valuing inventories: 
If Never applies the LCNRV basis, the value of the inventory reported on the statement of financial position would be
Definitions:
Bond Indenture
A legal contract specifying all the terms and conditions between a bond issuer and bondholder, including obligations, rights, and protections.
Bond Redemption
The process by which a bond issuer legally repays the principal amount of the bond to the bondholders at or before the bond's maturity date.
Market Prices
The immediate cost at which one can buy or sell an asset or service within the market environment.
Par Value
The nominal or face value of a stock or bond as stated by the issuer, which may differ from its market value.
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