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Waterway 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

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Waterway 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 9 $170 $154 Canon 6 151 153 Light Meters: Vivitar 12 122 110 Kodak 20 120 135 What amount should be reported for inventory on Waterway Frame Camera Shop's balance sheet, assuming the lower-of-cost-or- net realizable value rule is applied? The ending inventory $ 1

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