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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 Cost Value Units
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 Cost Value Units per Unit per Unit Cameras Minolta 5 $158 $157 Canon 7 150 162 Light Meters Vivitar 12 122 114 Kodak 11 122 127 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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