Sheridan Company 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 5 6 $160 131 $156 150 Cameras Minolta Canon Light Meters Vivitar Kodak 120 13 10 107 128 120 What amount should be reported on Sheridan Company's financial statements, assuming the lower-of-cost-or-market rule is applied? Amount reported on financial statements $