Question: Creative Technology reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Inventory Quantity Unit
Creative Technology reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory.
| Inventory | Quantity | Unit Cost | Unit NRV |
|---|---|---|---|
| Optima cameras | 100 | $49 | $79 |
| Inspire speakers | 40 | 59 | 49 |
Calculate the total amount to be reported for ending inventory in the balance sheet.

\begin{tabular}{|l|r|c|rr|} \hline \multicolumn{1}{|c|}{ Inventory } & \multicolumn{2}{|c|}{ Quantity } & Lower of Cost and NRV per unit & \multicolumn{2}{|c|}{ Ending Inventory } \\ \hline Optima camera & 100 & & $ & 0 \\ \hline Inspire speakers & 40 & & $ & 0 \\ \hline & & & & 0 \\ \hline \end{tabular}
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