Exercise 6-11

Freeze Frame Camera Shop uses the lower-of-cost-or-net realizable value for its inventory. The following data are available at December 31.

Item		Units			Unit Cost			Market Value
Cameras:
Minolta		7			$173			$158
Canon		11			143			174
Light meters:
Vivitar		14			135			111
Kodak		16			123			130

Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis.

The ending inventory