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Freeze Frame Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31 Item Units Unit Cost Cameras: $156

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Freeze Frame Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31 Item Units Unit Cost Cameras: $156 Minolta Canon $170 Light meters: Vivitar Instructions Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis. Compute lower-of-costor-market (LO 4)

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