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Business, 29.10.2019 04:31 alexbanda996

Birk camera shop inc. uses the lower-of-cost-or-market basis for its inventory. the following data are available at december 31.

units
cost/unit
market value/unit
cameras
minolta 5 $170 $158
canon 7 145 152
light meters
vivitar 12 125 114
kodak 10 120 135

what amount should be reported on brik camera shop's financial statements, assuming the lower-of-cost-or-market rule is applied?
total
$

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Answers: 1

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Birk camera shop inc. uses the lower-of-cost-or-market basis for its inventory. the following data a...

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