Exercise 6-12

Exercise 6-12 Swifty Corporation uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Item Units Unit Cost Net Realizable Value Cameras: Minolta 8 $174 $160 Canon 12 149 183 Light meters: Vivitar 13 135 115 Kodak 19 125 134 Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis. The ending inventory