Departures from Acquisition Cost Determine the proper total inventory value for each of the following items in Packer Company's ending inventory: Packer has 60 model X3 cameras in stock. The cameras cost $260 each, but their year-end replacement cost is only $240. Packer has been selling the cameras for $310, but competitors are now selling them for $280. Packer plans to match the selling price at $280. Packer's normal gross profit on cameras is 35 percent.
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