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Exercise 6-12 Splish Brothers Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Item Units Unit
Exercise 6-12 Splish Brothers Inc. 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 4 $175 $153 Canon 9 148 180 Light meters: Vivitar 14 137 104 Kodak 17 118 128
Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis.
The ending inventory $_______
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