Question: Concord frame camera shop uses the lower-of-cost-or net realizable value basis of for its inventory. The following data are available at December 31. Concord Frame

Concord frame camera shop uses the lower-of-cost-or net realizable value basis of for its inventory. The following data are available at December 31.

Concord Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31 What amount should be reported for inventory on Concord Frame Camera Shop's balance sheet, assuming the lower-of-cost-or-net realizable value rule is applied? The ending inventory

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