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Sunland Camera Shop Inc. 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
Sunland Camera Shop Inc. 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 | Net Realizable Value | ||||||
---|---|---|---|---|---|---|---|---|---|
Cameras: | |||||||||
Minolta | 3 | $178 | $156 | ||||||
Canon | 9 | 141 | 189 | ||||||
Light meters: | |||||||||
Vivitar | 15 | 135 | 114 | ||||||
Kodak | 16 | 118 | 138 |
What amount should be reported for inventory on Sunland Camera Shops balance sheet, assuming the lower-of-cost-or-net realizable value rule is applied?
The ending inventory | $enter the ending inventory amount in dollars |
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