Marigold Corp. Inc. uses the lower-of-cost-or-net realizable value basis for its Inventory. The following data are available at Decemberr
rWhat amount should be reported on Marigold Corp's financial statements, assuming the lower-of-cost-or-net realizable value rule israpplied?r

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Item Cameras Minolta Canon Light meters: Vivitar Kodak Units Unit Cost 5 12 14 17 $179 145 132 123 Net Realizable Value $159 172 101 128 Item Cameras Minolta Canon Light meters: Vivitar Kodak Units Unit Cost 5 12 14 17 $179 145 132 123 Net Realizable Value $159 172 101 128

Answer rating: 100% (QA)

item Units Unit cost NRV lowerofcostornet realizable value total cost Cameras Minolta 5 ... View the full answer