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.

Creative Technology reports inventory using the lower of cost and net realizable

\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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