View Policies Current Attempt in Progress At May 31, Waterway Company has net sales of $ 360,000 and cost of goods available for sale of $ 245,000. Compute the estimated cost of the ending inventory, assuming the gross profit rate is 35%. Estimated cost of ending inventory $ UA 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 Net Realizable Value per Unit Item Units Cost per Unit Cameras: Minolta 7 $ 169 $ 155 Canon 7 150 152 Light Meters: Vivitar 14 121 112 Kodak 20 120 135 What amount should be reported for inventory on Lily Frame Camera Shop's balance sheet, assuming the lower-of-cost-or-net realizable value rule is applied? The ending inventory $ Coronado Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras Blu-ray players iPods 140 units at a cost per unit of $ 62 190 units at a cost per unit of $ 70 120 units at a cost per unit of $83 The net realizable value at year-end was cameras $ 74, Blu-ray players $ 68, and iPods $ 78. Determine the amount of ending inventory at lower-of-cost-or-net realizable value. Ending inventory $