Creative Technology reports inventory using lower-of-cost-or-market. Below is information related to its year-end inventory. Calculate the amount

Question:

Creative Technology reports inventory using lower-of-cost-or-market. Below is information related to its year-end inventory. Calculate the amount to be reported for .
Inventory Quantity Cost Market
Optima cameras...........100............$50..................$80
Inspire speakers............40..............60...................50
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...