Question 7 Wildhorse Co. 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 Cameras Minolta 5 7 $158 150 $157 162 Canon Light Meters Vivitar Kodak 122 114 122 127 What amount should be reported on Wildhorse Co.'s financial statements, assuming the lower-of-cost-or-market rule is applied? Total LINK TO TEXT VIDEO: APPLIED SKILLS VIDEO: SIMILAR EXERCISE