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. What amount should be

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. What amount should be reported for inventory on Crane 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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