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In its first month of operation, Waterway Industries purchased 340 units of inventory for $9, then 440 units for $10, and finally 380 units for $11. At the end of the month, 420 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Phantom profit $Current Attempt in Progress Blossom Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Cost Value Units per Unit per Unit Cameras Minolta 5 $178 $149 Canon 7 153 161 Light Meters Vivitar 13 136 111 Kodak 10 111 141 What amount should be reported on Blossom Camera Shop's nancial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total $