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Waterway 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 Value per
Waterway 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 Value per Unit Cost per Unit Units 5 8 $184 154 $147 162 Cameras Minolta Canon Light Meters Vivitar Kodak 12 9 104 114 109 124 104 What amount should be reported on Waterway Camera Shop's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total
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