Determine the amount of the ending inventory

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Question - 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

5

$177

$154

Canon

12

147

181

Light meters:




Vivitar

15

130

105

Kodak

18

119

133

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

Reference no: EM132049506

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