Question 2 Oriole Company uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Cost Market Units per Unit per Unit Cameras Minolta 5 $173 $151 Canon 8 135 156 Light Meters Vivitar 12 120 110 Kodak 11 115 143 What amount should be reported on Oriole Company's financial statements, assuming the lower-of-cost-or-market rule is applied? Amount reported on financial statements