Question: Crane Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Item Cameras Units

Crane Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its

Crane Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Item Cameras Units Unit Cost Market Value Minolta $160 $150 Canon 150 152 Light meters Vivitar 12 1.20 110 Kodak 14 120 135 Delemine the amount of the ending inventory by applying the lower of cost-e net realleable value basis The ending inventory

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