Cody Camera Shop Inc.uses the lower of cost or market basis for its inventory. The following data are available at December 31. Units Cost/Unit Market Value/Unit Cameras Minolta 5 $175 $160 Canon 7 150 152 Light Meters Vivitar 12 125 119 Kodak 10 115 135 Instructions What amount should be reported on Cody Camera Shop’s financial statements, assuming the lower of cost or market rule is applied?