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Best Buy uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Units Cost per
Best Buy uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Units Cost per Unit Value per Unit Cameras Minolta 5 $187 $161 Canon 7 148 155 Light Meters Vivitar Kodak 22 12 127 105 10 110 129 What amount should be reported on Best Buy's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total $
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