Jenks Company developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-value(LCNRV) basis in valuing inventories: 
After Jenks applies the LCNRV rule, the value of the inventory reported on the balance sheet would be
Definitions:
Cloned
Refers to the process of creating a genetically identical copy of an organism or cell.
Mental Module
A concept in cognitive science suggesting that the mind is composed of innate, self-contained units or modules that are responsible for specific cognitive functions.
Natural Selection
The process by which organisms better adapted to their environment tend to survive and produce more offspring, a key mechanism of evolution.
Specialized Mental Process
Cognitive operations or mechanisms that are tailored for handling specific types of information or tasks.
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