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Question 3 Coronado Frame 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

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Question 3 Coronado Frame 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 Market Value Cameras: Minolta 11 $151 Canon 153 155 Light meters: Vivitar 16 124 114 120 $160 Kodak 135 Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis. The ending inventory s

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