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:
Downsizing
The process of reducing the number of employees within an organization for economic or strategic reasons.
Restructuring
The corporate action of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable or better organized for its present needs.
Insidious Consequences
Negative outcomes that gradually and subtly develop over time, often as a result of certain actions or decisions.
Organizational Restructuring
The act of realigning or changing the organizational structure, processes, or cultures of a company to improve efficiency, effectiveness, or adapt to new strategies.
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