Exercise 6-12

Serebin Company applied FIFO to its inventory and got the following results for its ending inventory.

Cameras		115	units at a cost per unit of	$69
Blu-ray players		171	units at a cost per unit of	$75
iPods		125	units at a cost per unit of	$81

The cost of purchasing units at year-end was cameras $75, Blu-ray players $51, and iPods $78.

Determine the amount of ending inventory at lower-of-cost-or-market.