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Blossom Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Value per
Blossom Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Value per Unit Cost per Unit Units Cameras Minolta 5 7 $178 153 $149 161 Canon 153 Light Meters Vivitar 136 111 Kodak 111 141 What amount should be reported on Blossom Camera Shop's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total $ 4425
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