unit 10 lab_Assi

Lily Frame Camera Shop 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 Market Value

Cameras:

Minolta 8 $165 $156

Canon 6 154 156

Light meters:

Vivitar 12 124 111

Kodak 19 120 135

What isthe amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis.

The ending inventory: $___________