Ritz Camera Shop Inc. uses the following data are available at December 31. Cameras Nikon Canon Light Meters Olympus Pentax Total $ Units Cost/Unit 5 8 13 lower-of-cost-or-net-realizable-value (LCNRV) basis for its inventory. The 10 $170 150 122 122 NRV/Unit $152 158 116 What amount should be reported on Ritz Camera Shop's financial statements, assuming the lower-of-cost-or- net-realizable-value rule is applied? 130

Ritz Camera Shop Inc. uses the lower-of-cost-or-net-realizable-value (LCNRV) basis for its inventory, The following data are avallable at December 31. What amount should be reported on Ritz Camera Shop's financial statements, assuming the lower-of-cost-ornet-realizable-value rule is applied? Total