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Your answer is incorrect. Concord Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31.

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Your answer is incorrect. Concord 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 Cameras Minolta $180 $163 Canon 133 141 Light Meters Vivitar 11 125 121 Kodak What amount should be reported on Concord Camera Shop's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total $ e Textbook and Media

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