(Answered) Problem - optix camera shop uses the

Accounting

Problem - 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	3	$173	$158
Canon	10	142	183
Light meters:
Vivitar	14	134	109
Kodak	16	123	128

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

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