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Creve Couer Camera Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Item Cost per Unit Market Price

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Creve Couer Camera Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Item Cost per Unit Market Price per unit $ Number of Units $ Minolta 5 160 156 Canon 7 145 153 What amount should be reported on Creve Couer Camera's financial statements, as per IAS2?

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