Question - Fenton Company applied FIFO to its inventory and got the following results for its ending inventory.
Cameras 100 units at a cost per unit of $68 DVD players 150 units at a cost per unit of $75 iPods 125 units at a cost per unit of $80
The cost of purchasing units at year-end was cameras $70, DVD players $69, and iPods $78.
Determine the amount of ending inventory at lower-of-cost-or-market.