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

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Accounting

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Crane Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at December 31. Net Realizable Value per Unit Cost per Unit Units Cameras Minolta 5 $156 $160 131 Canon 150 Light Meters Vivitar 13 120107 Kodak 120 128 What amount should be reported on Crane Camera Shop's financial statements, assuming the lower-of-cost-or-net realizable value rule is applied? Total $

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