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Wildhorse Co. Inc. 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 Net
Wildhorse Co. Inc. 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 Net Realizable Value Cameras: Minolta 7 $179 $153 Canon 10 149 172 Light meters: Vivitar 13 136 108 Kodak 19 122 128 What amount should be reported on Wildhorse Co.'s financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? The ending inventory $
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