Metlock 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 Canon 55 $179 $171 7 138 143 Light Meters Vivitar Kodak 22 12 120 108 11 118 148 What amount should be reported on Metlock Camera Shop's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer