Question: Optix Camera Shop uses the lower-of-cost-or-market value for its inventory. The following data are available at December 31. Item Units Unit Cost Market Cameras: Minolta

Optix Camera Shop uses the lower-of-cost-or-market value for its inventory. The following data are available at December 31.

Item

Units

Unit Cost

Market
Cameras:
Minolta 3 $174 $157
Canon 11 145 186
Light meters:
Vivitar 14 135 110
Kodak 18 118 139

Determine the amount of the ending inventory by applying the lower-of-cost-or-market value basis.

The ending inventory:

$

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