(Solution) - Digital Camera Shop Inc uses the lower of cost or market basis for its -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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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?