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E6-9 Americus Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Item Units Unit Cost Market Cameras
E6-9 Americus Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Item Units Unit Cost Market Cameras Minolta 5 $170 $156 Canon 6 150 152 Light Meters Vivitar 12 125 115 Kodak 14 120 135 Instructions Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis. $
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