Question - Littleton Electronics Ltd. reports the following cost and net realizable value information for its inventory at January 31:
|
|
Units
|
Unit Cost
|
Unit NRV
|
|
Cameras:
|
|
Kodak
|
4
|
$177
|
$155
|
|
Minolta
|
8
|
145
|
156
|
|
Light Meters:
|
|
Gossen
|
12
|
128
|
156
|
|
Seconic
|
10
|
126
|
90
|
Determine the lower of cost and net realizable value of the ending inventory.