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Tamarisk, Inc. 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

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Tamarisk, Inc. 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 $179 $171 Canon 7 138 143 Light Meters: Vivitar 12 120 108 Kodak 11 118 148 What amount should be reported on Tamarisk, Inc.'s financial statements, assuming the lower-of-cost-or-market rule is applied? Amount reported on financial statements $

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