O’Connor Video Center accumulates the following cost and market data at December 31.
|
Inventory |
Categories |
Cost Data |
Market Data |
|
Cameras |
12,500 |
13,400 |
|
|
Camcorders |
9,000 |
9,500 |
|
|
DVDs |
3,000 |
12,800 |
Compute the lower-of-cost-or-market valuation for O’Connor’s inventory.