Answer:
Minolta: 5 at $ 163 = $ 815
Canon: 7 at $ 133 = $ 931
Vivitar 11 at $ 112 = $ 1,232
Kodak 10 at $ 121 = $ 1,210
Total Inventory: $ 4,188
Explanation:
We must value the inventory at the lower value between the historic cost and the market value of the assets. This is done to follow the conservatism principles of accounting.
Minolta: 5 at $ 163 = $ 815
Canon: 7 at $ 133 = $ 931
Vivitar 11 at $ 112 = $ 1,232
Kodak 10 at $ 121 = $ 1,210
Total Inventory: $ 4,188