What amount should the company inventory be reported

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Reference no: EM13682632

A company had been selling its product for $24 per unit, but recently lowered the selling price to $17 per unit. The company's current inventory consists of 210 units purchased at $20 per unit. The replacement cost of this merchandise is currently $15 per unit. At what amount should the company's inventory be reported on the balance sheet under the lower of cost or market rule?

Reference no: EM13682632

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