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Crane 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 Units Cost per

Crane 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

Units

Cost per Unit

Net Realizable Value per Unit

Cameras:

Minolta

5 $160 $150

Canon

6 150 152

Light Meters:

Vivitar

12 120 110

Kodak

14 120 135

What amount should be reported for inventory on Crane Frame Camera Shops balance sheet, assuming the lower-of-cost-or-net realizable value rule is applied?

The ending inventory

$enter the ending inventory amount in dollars

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