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Determine the amount of the ending inventory

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

Item

Units

Unit Cost

Market

Cameras:


Minolta

3

$173

$158

Canon

10

142

183

Light meters:


Vivitar

14

134

109

Kodak

16

123

128

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

Reference no: EM132033732

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