Question: Your answer is incorrect. Try again. Optix Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Item

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

Item Units Unit Cost Market
Cameras:
Minolta 7 $173 $162
Canon 11 142 175
Light meters:
Vivitar 14 134 106
Kodak 16 122 129

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

The ending inventory

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