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Novak Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31 Item Units Unit Cost Net

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Novak Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31 Item Units Unit Cost Net Realizable Value Cameras Minolta W174,700 W156,800 152.100 Canon 6 149.000 Light Meters Vivitar 12 125,700 114,500 134,900 Kodak 14 114,500 Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis. The ending inventory w

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