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Jennifer Inc. uses the lower-of-cost-or-net-realizable-value (LCNRV) basis for its inventory. The following data are available at December 31 Units Cost/Unit NRV/Unit 5 $165 $178 147

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Jennifer Inc. uses the lower-of-cost-or-net-realizable-value (LCNRV) basis for its inventory. The following data are available at December 31 Units Cost/Unit NRV/Unit 5 $165 $178 147 7 153 Cameras Minolta Canon Light Meters Vivitar Kodak 16 117 121 120 11 132 What amount should be reported on Jennifer's financial statements, assuming the lower-of-cost-or-net-realizable-value rule is applied? Total Click if you would like to Show Work for this question: Open Show Work

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