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Current Attempt in Progress Best Buy uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net
Current Attempt in Progress Best Buy uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Units Cost per Unit Value per Unit Cameras Minolta 5 $160 $156 Canon 9 131 150 Light Meters Vivitar 13 120 107 Kodak 10 120 128 What amount should be reported on Best Buy's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? 58F
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