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Melissa Inc uses the lower-of-cost-or-net-realizable-value (LCNRV) basis for its inventory. The following data are available at December 31 Market Value/Unit Units Cost/Unit Cameras Minolta un

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Melissa Inc uses the lower-of-cost-or-net-realizable-value (LCNRV) basis for its inventory. The following data are available at December 31 Market Value/Unit Units Cost/Unit Cameras Minolta un $170 $152 Canon 8 150 158 Light Meters Vivitar 13 122 116 Kodak 10 122 130 What amount should be reported on Melissa's financial statements, assuming the lower-of-cost-or-net-realizable-value rule is applied? Total $

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