Best Buy uses the lower$-$of$-$cost$-$or$-$net realizable value basis for its inventory. The following data are available at December $31.$

Cost

Units A per Unit

Net

Realizable

Value

per Unit

Cameras

Minolta

$5$

$$173$

$$151$

Canon

$8$

$135$

$156$

Light Meters

Vivitar

$12$

$120$

$110$

Kodak

$11$

$115$

$143$

What amount should be reported on Best Buy's financial statements, assuming the lower$-$of$-$cost$-$or$-$net realizable value rule is applied?

Total