Eloise 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 Value/Unit Cameras Minolta 4 $174 $159 Canon 11 144 170 Light Meters Vivitar 14 130 113 Kodak 19 123 140 Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis. The ending inventory $ 12.125 Problem 6-9A Farman Appliance Mart began operations on May 1. It uses a perpetual inventory system.
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