What is lower-of-cost-or-net-realizable-value of inventory, Accounting Basics

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What is lower-of-cost-or-net-realizable-value of inventory

Problem: The Vogelson Company accumulates the following cost and net realizable value data at December 31.

Inventory Categories	Cost Data	Net Realizable Value Data
Camera	$11,000	$9,900
Camcorders	7,800	7,800
DVDs	14,000	12,000

Required: What is the lower-of-cost-or-net-realizable-value of the inventory?

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Accounting Basics: What is lower-of-cost-or-net-realizable-value of inventory

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Accounting Basics: What is lower-of-cost-or-net-realizable-value of inventory

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