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Indigo Corporation uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Cost per Unit Market per Unit Units Cameras
Indigo Corporation uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Cost per Unit Market per Unit Units Cameras Minolta 5 $ 176 $ 168 Canon 6 149 152 Light Meters Vivitar 11 125 124 Kodak 10 129 132 What amount should be reported on Indigo Corporation's financial statements, assuming the lower-of-cost-or-market rule is applied? Amount reported on financial statements $
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