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Windsor Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Units Cost per Unit
Windsor Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31.
Units | Cost per Unit | Net Realizable Value per Unit | ||||
---|---|---|---|---|---|---|
Cameras | ||||||
Minolta | 5 | $170 | $159 | |||
Canon | 7 | 154 | 159 | |||
Light Meters | ||||||
Vivitar | 11 | 115 | 106 | |||
Kodak | 11 | 120 | 123 |
What amount should be reported on Windsor Camera Shops financial statements, assuming the lower-of-cost-or-net realizable value rule is applied?
Total | $ Enter a dollar amount that should be reported on Unresolveds financial statements |
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