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Bonita Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Cost per
Bonita Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Cost per Unit Value per Unit Item Units Cameras: Minolta 11 $165 $150 6 150 152 Canon Light Meters: Vivitar 12 120 114 Kodak 15 120 135 What amount should be reported for inventory on Bonita Frame Camera Shop's balance sheet, assuming the lower-of-cost-or-net realizable value rule is applied? The ending inventory $
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