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Eloise 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 Value/Unit Cameras
Eloise 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 Value/Unit |
| Cameras | |||
| Minolta | 6 | $174 | $156 |
| Canon | 10 | 144 | 183 |
| Light Meters | |||
| Vivitar | 15 | 130 | 113 |
| Kodak | 19 | 122 | 131 |
Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis.
| The ending inventory | $ |
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
11th edition
978-1111530266
