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Question 4 of 6 -/1 Current Attempt in Progress Blue Spruce Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following
Question 4 of 6 -/1 Current Attempt in Progress Blue Spruce Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Value per Unit Cost Units per Unit Cameras Minolta 5 $176 $168 Canon 6 149 152 Light Meters Vivitar 11 125 124 Kodak 10 129 132 What amount should be reported on Blue Spruce Camera Shop's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total $
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