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Freeze Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Item
Freeze Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Item Units Cost per Unit Value per Unit Cameras: Minolta Canon $170 $156 150 152 Light Meters: Vivitar 10 125 115 Kodak 14 120 135 What amount should be reported for inventory on Freeze Frame Camera Shop's balance sheet, assuming the lower-of-cost-or-net realizable value rule is applied? The ending inventory $
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