Question: Birk Camera Shop Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Instructions What amount should be reported

Birk Camera Shop Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31.

Birk Camera Shop Inc. uses the lower-of-cost-or-market basis for its

Instructions
What amount should be reported on Birk Camera Shop€™s financial statements, assuming the lower-of-cost-or-market rule isapplied?

Market Value/Unit Units Cost/Unit Cameras Minolta Canon S170 145 $158 152 01n Light Meters Vivitar Kodak 12 10 125 120 114 135

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