Question: Freeze Frame Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Instructions Determine the amount of the

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

Freeze Frame Camera Shop uses the lower-of-cost-or-market basis for its

Instructions
Determine the amount of the ending inventory by applying the lower-of-cost-or-marketbasis.

Unit Cost Market Units Item Cameras Canon $170 150 $156 152 Minolta Light meters Vivitar Kodak 10 14 125 120 115 135

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