Use the following to answer questions :
The following inventory information was taken from the records of Kleinfeld Inc.: 
-Under U.S.GAAP,what should the Balance Sheet report for Inventory?
Definitions:
Practical Approach
implies a focus on real-world applications and results, favoring straightforward, viable solutions over theoretical conjectures.
Annual Adjustment
A modification made yearly to account for changes in economic or financial conditions, such as indexing the scale of tax brackets to inflation.
Exemption Amount
This refers to a specific amount set by tax laws that a taxpayer can claim to reduce taxable income, potentially lowering the overall tax burden.
Head of Household
A tax filing status for unmarried individuals who provide more than half of the financial support for a household and have a qualifying dependent.
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