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
$

pixel. gif

The total amount should be reported on Brik Camera Shop's financial statements, assuming the lower-of-cost-or-market rule is applied is $4,373

Explanation:

According to the lower-of-cost-or-market rule, the inventory should be reported a lesser amount of cost or market value.

So,

For Cameras:

Minolta = $158 × $5 = $790

Canon = $145 × $7 = $1,015

For Light Meters

Vivitar  = 12 × 114  = $1,368

Kodak = 10 × 120 = $1,200

So, the total amount would be

= $790 + $1,015 + $1,368 + $1,200

= $4,373

answer; the correct answer is (direct foreign investment);

i would prefer to go with the news article for nate, its recent and updated and stores a lot of information