Question: error and its effect on the financial stater E6.11 (LO 4), AP Digital Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis inventory. The following
error and its effect on the financial stater E6.11 (LO 4), AP Digital Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis inventory. The following data are available at December 31. Cost Net Realizable Value per Unit Units per Unit 5 7 $170 145 $158 152 Cameras Minolta Canon Light Meters Vivitar Kodak 12 125 120 114 135 10 Instructions What amount should be reported for inventory on Digital Camera Shop's balance sheet, assuming a lower-of-cost-or-net realizable value rule is applied
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