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Marigold Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Cost
Marigold Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Cost Value Units per Unit per Unit Cameras Minolta 5 $176 $155 Canon 7 147 149 Light Meters Vivitar 12 121 116 Kodak 10 113 140 What amount should be reported on Marigold Camera Shop's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total $
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