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

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Accounting

Sheridan Camera Shop Inc. uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at
December 31.
What amount should be reported for inventory on Sheridan Camera Shop's balance sheet, assuming the lower-of-cost-or-net
realizable value rule is applied?
The ending inventory $
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