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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

7

$173

$162

Canon

11

142

175

Light meters:


Vivitar

14

134

106

Kodak

16

122

129

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

Reference no: EM132060568

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