Concord Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31.

		Units		Cost per Unit		Net Realizable Value per Unit
Cameras
Minolta		5		$180		$163
Canon		7		133		141
Light Meters
Vivitar		11		125		112
Kodak		10		121		129

What amount should be reported on Concord Camera Shops financial statements, assuming the lower-of-cost-or-net realizable value rule is applied?

Total

$Enter a dollar amount that should be reported on Unresolveds financial statements

Wildhorse Co. reported these income statement data for a 2-year period.

		2022		2021
Sales revenue		$254,900		$221,390
Beginning inventory		36,380		28,890
Cost of goods purchased		186,300		174,990
Cost of goods available for sale		222,680		203,880
Less: Ending inventory		53,280		36,380
Cost of goods sold		169,400		167,500
Gross profit		$85,500		$53,890

Wildhorse Co. uses a periodic inventory system. The inventories at January 1, 2021, and December 31, 2022, are correct. However, the ending inventory at December 31, 2021, is overstated by $8,580.

Prepare correct income statement data for the 2 years.

			2021		2022
Sales			$enter a dollar amount		$enter a dollar amount
Cost of goods sold
Beginning inventory			enter a dollar amount		enter a dollar amount
Cost of goods purchased			enter a dollar amount		enter a dollar amount
Cost of goods available for sale			enter a dollar amount		enter a dollar amount
Less:	Ending inventory		enter a dollar amount		enter a dollar amount
	Cost of goods sold		enter a dollar amount		enter a dollar amount
Gross profit			$enter a dollar amount		$enter a dollar amount