acct2

Exercise 6-9

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

Item		Units		Unit Cost		Market Value/Unit
Cameras
Minolta		8		$170		$156
Canon		6		150		152
Light Meters
Vivitar		12		125		115
Kodak		14		115		135

Determine the amount of the ending inventory by applying the lower-of-cost-or-market basis.

The ending inventory

$