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Coronado Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Item Cameras: Minolta Canon
Coronado Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Item Cameras: Minolta Canon Light Meters: Vivitar Kodak Units Cost per Unit 5 7 14 14 $163 The ending inventory $ 150 121 120 Net Realizable Value per Unit $154 152 112 135 What amount should be reported for inventory on Coronado Frame Camera Shop's balance sheet, assuming the lower-of-cost-or-net realizable value rule is applied?
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