Question: Question 7 of 8 < > Current Attempt in Progress -/1 Best Buy uses the lower-of-cost-or-net realizable value basis for its inventory. The following

Question 7 of 8 < > Current Attempt in Progress -/1 Best Buy uses the lower-of-cost-or-net realizable value basis for its inventory. The following

Question 7 of 8 < > Current Attempt in Progress -/1 Best Buy uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Value Units Cost per Unit per Unit Cameras Minolta 5 $176 $155 * Canon 7 147 149 Light Meters Vivitar 12 121 116 Kodak 10 113 140 , What amount should be reported on Best Buy's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied?

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