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Blue Spruce Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The...

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Accounting

imageBlue Spruce Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31.

Blue Spruce Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Item Units Unit Cost Net Realizable Value Cameras: Minolta 6 $ 177 $ 157 Canon 10 143 179 Light meters: Vivitar 13 137 112 Kodak 17 120 140 What amount should be reported for inventory on Blue Spruce Camera Shop's balance sheet, assuming the lower-of-cost-or-net realizable value rule is applied? The ending inventory $ 4388

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