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Determine the amount of ending inventory

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Question - Sheffield Company applied FIFO to its inventory and got the following results for its ending inventory.

Cameras 105 units at a cost per unit of $60.

Blu-ray players 155 units at a cost per unit of $71.

iPods 130 units at a cost per unit of $81.

The net realizable value at year-end was cameras $74, Blu-ray players $66, and iPods $76.

Required - Determine the amount of ending inventory at lower-of-cost-or-net realizable value.

Reference no: EM132473007

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