Fenton Company applied FIFO to its inventory and got the following results for its ending inventory. | |||||||
Cameras | 100 | units at a cost per unit of $68 | |||||
DVD players | 150 | units at a cost per unit of $75 | |||||
iPods | 125 | units at a cost per unit of $80 | |||||
The cost of purchasing units at year-end was cameras $70, DVD players $69, and iPods $78. | |||||||
Determine the amount of ending inventory at lower-of-cost-or-market. |