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Picture Perfect Camera Shop is determining the lower of cost and net realizable value of its inventory. The following data are available at December 31:

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Picture Perfect Camera Shop is determining the lower of cost and net realizable value of its inventory. The following data are available at December 31: Cameras: Nikon Canon Sony Sigma Units 15 17 22 20 Unit Cost $675 400 141 214 Net Realizable Value $604 426 124 220 Lenses: (a) Your answer is incorrect. Try again. Determine the lower of cost and net realizable value of the ending inventory assuming Picture Perfect Camera Shop applies LCNRV to major categories of items. Lower of cost and net realizable value 22,868

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