What amount should be reported on digital camera shops, Accounting Basics

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What amount should be reported on digital camera shops

Question: Digital Camera Shop Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31.

Instructions: What amount should be reported on Digital Camera Shop's financial statements, assuming the lower-of-cost-or-market rule is applied?

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Accounting Basics: What amount should be reported on digital camera shops

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