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Your answer is incorrect. Try again. Optix Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Item
Your answer is incorrect. Try again. | |
Optix Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31.
Item | Units | Unit Cost | Market |
Cameras: | |||
Minolta | 7 | $173 | $162 |
Canon | 11 | 142 | 175 |
Light meters: | |||
Vivitar | 14 | 134 | 106 |
Kodak | 16 | 122 | 129 |
Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis.
The ending inventory |
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