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Determine the lower of cost and net realizable value

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Question - Littleton Electronics Ltd. reports the following cost and net realizable value information for its inventory at January 31:

 

Units

Unit Cost

Unit NRV

Cameras:

Kodak

4

$177

$155

Minolta

8

145

156

Light Meters:

Gossen

12

128

156

Seconic

10

126

90

Determine the lower of cost and net realizable value of the ending inventory.

Reference no: EM132106080

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