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Tutorial   18922

O'Connor Video Center accumulates the following cost and market data at December 31. Inventory Categories Cost Data Market Data Cameras $12,500 $13...

Question:

 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    

 DVD\'s                                                   13,000                                  12,800  

Compute the lower of cost or market valuation for O\'Connor\'s inventory.