Question 2 Bonita, Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Units Cost per Unit Market per Unit 5 $179 $144 180 8 160 Cameras Minolta Canon Light Meters Vivitar Kodak 12 113 109 10 116 142 What amount should be reported on Bonita, Inc.'s financial statements, assuming the lower-of-cost-or-market rule is applied? Amount reported on financial statements