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Determine the amount of the ending inventory

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Question - Waterway Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31.

Item Units Unit Cost Market Value

Cameras: Minolta 9 $170 $154

Canon 6 151 153

Light meters: Vivitar 12 122 110

Kodak 20 120 135

Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis.

Reference no: EM132216673

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