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Exercise 6-09 Kingbird 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
Exercise 6-09 Kingbird 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 Value per Unit M Units Cost per Unit Cameras Minolta in $179 153 $143 158 Canon Light Meters Vivitar Kodak 119 132 120 130 0 What amount should be reported on Kingbird Camera Shop's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total Click if you would like to Show Work for this question: Open Show Work
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