Determine the amount of ending inventory

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Problem - Sheridan Company applied FIFO to Its inventory and got the following results for its ending inventory.

Cameras 140 units at a cost per unit of $61

Blu-ray players 185 units at a cost per unit of $74

iPods 120 units at a cost per unit of $83

The net realizable value at year-end was cameras $75, Blu-ray players $66, and iPods $78.

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

Reference no: EM132817268

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