Problem
Crane Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 130 units at a cost per unit of $60 Blu-ray players 180 units at a cost per unit of $75 iPods 125 units at a cost per unit of $83 The net realizable value at year-end was cameras $72, Blu-ray players $67, and iPods $78. Determine the amount of ending inventory at lower-of-cost-or-net realizable value.