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Oriole Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Item Units Unit
Oriole Camera Shop Inc. 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 3 $178 $163 Canon 10 10 143. 189 Light meters: Vivitar 14 132 109 Kodak 20 118 133 What amount should be reported for inventory on Oriole Camera Shop's balance sheet, assuming the lower-of-cost-or-net realizable ve rule is applied?
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