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To determine the lower of cost and net realizable value (LCNRV) for each item in the inventory, we will compare the unit cost and the unit net realizable value (NRV) for each item and select the lower amount. Then, we will multiply the lower amount by the number of units for each product to get the total LCNRV.

### Cameras:
1. **Sony**: 
   - Unit Cost: $177 
   - Unit NRV: $161
   - Lower value: $161 (since NRV is lower than cost)
   - Total for Sony: $ 161 \times 4 = 644 $

2. **Canon**: 
   - Unit Cost: $144 
   - Unit NRV: $147
   - Lower value: $144 (since cost is lower than NRV)
   - Total for Canon: $ 144 \times 8 = 1152 $

### Light Meters:
3. **Gossen**: 
   - Unit Cost: $139 
   - Unit NRV: $144
   - Lower value: $139 (since cost is lower than NRV)
   - Total for Gossen: $ 139 \times 12 = 1668 $

4. **Sekonic**: 
   - Unit Cost: $113 
   - Unit NRV: $108
   - Lower value: $108 (since NRV is lower than cost)
   - Total for Sekonic: $ 108 \times 10 = 1080 $

### Total LCNRV for the inventory:
- $ 644 + 1152 + 1668 + 1080 = 4544 $

### Summary of LCNRV:
- **Sony**: $644
- **Canon**: $1152
- **Gossen**: $1668
- **Sekonic**: $1080
- **Total**: $4544

Would you like more details on any of these calculations?

Here are some additional questions related to this problem:
1. How does the LCNRV principle affect financial reporting in inventory valuation?
2. What is the impact of a decrease in NRV on the profitability of a company?
3. Can you explain why LCNRV is considered a conservative approach to inventory valuation?
4. How does inventory valuation affect the balance sheet of a company?
5. What are the consequences of overvaluing or undervaluing inventory in accounting?

**Tip:** Always review both cost and NRV when valuing inventory to ensure your financial statements comply with accounting standards.

Determine the lower of cost and net realizable value of the ending inventory based on the provided data.

Learn how to calculate the lower of cost and net realizable value (LCNRV) for different products in an inventory. This example includes Sony, Canon, Gossen, and Sekonic units with detailed breakdowns of cost and NRV calculations.

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