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Crane Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following are available at December 31. Item Cameras: Minolta Canon Light
Crane Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following are available at December 31. Item Cameras: Minolta Canon Light Meters: Vivitar Kodak Units Cost per Unit 12 7 14 15 $162 The ending inventory $ 154 123 120 Net Realizable Value per Unit $153 156 112 135 What amount should be reported for inventory on Crane Frame Camera Shop's balance sheet, assuming the lower- of-cost-or-net realizable value rule is applied?
please help idk how to go about this
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