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Determine the amount of the ending inventory

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Question - Concord 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

$169

$150

Canon

10

155

157

Light meters:

 

 

 

Vivitar

20

124

111

Kodak

19

120

135

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

Reference no: EM133075886

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