Answer:
$385,000
Step-by-step explanation:
The computation of value of the inventory reported using the LCNRV rule is shown below:
Product Cost Market Lower value of cost and market
A $125,000 $132,000 $125,000
B $88,000 $84,000 $84,000
C $176,000 $178,000 $176,000
Ending inventory value $385,000
Based on this, the value of the ending inventory is $385,000 by applying the LCNRV rule