Question: Powder Ski Shop reports inventory using lower-of-cost-or-market. Below is information related to its year-end inventory? Calculate the amount to be reported for ending inventory .

Powder Ski Shop reports inventory using lower-of-cost-or-market. Below is information related to its year-end inventory? Calculate the amount to be reported for ending inventory.

......................Inventory.....Quantity........Cost Market

Ski jackets.........15...........$120...............$100

Skis.................20..............350................400

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