Question: Kinshasa 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 ending

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

Kinshasa Camera Shop uses the lower-of-cost-or-market basis for

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

Units Unit Cost Market Item Camcras: Minolta Canon $170 150 $156 152 Light meters: Vivitar Kodak 12 14 125 115 115 135

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