Current Attempt in Progress Sheridan Company uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Units Cost per Unit Market per Unit Cameras Minolta 5 $160 $156 Canon 6 131 150 Light Meters Vivitar Kodak 22 13 120 107 10 120 128 What amount should be reported on Sheridan Company's financial statements, assuming the lower-of-cost-or-market rule is applied? Amount reported on financial statements $