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Americus camera shop uses the lower-of-cost-or-market basis

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Reference no: EM13482289

Americus Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31.

     ITEM                 UNITS                  UNITCOST               MARKET

Cameras:

   Minolta                  5                             $170                         $156

   Canon                   6                               150                            152

Light Meters

   Vivitar                   12                              125                           115

   Kodak                   14                              120                           135

Instructions:

Determine the amount of the ending inventory by applying thelower-of-cost-or-market basis.

Reference no: EM13482289

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