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Current Attempt in Progress Vaughn Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31.
Current Attempt in Progress Vaughn Camera Shop Inc. 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 Canon Light Meters Vivitar Kodak 55 $187 $150 131 140 13 29 117 1041 125 141 What amount should be reported on Vaughn Camera Shop's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total
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