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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. Item Units Unit Cost
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.
Item
Units
Unit Cost
Market Value
Cameras:Minolta9$170$154Canon6151153Light meters:Vivitar12122110Kodak20120135
Determine the amount of the ending inventory by applying the lower-of-cost-or-net realizable value basis.
The ending inventory
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