Tascon Corporation sells coffee beans, which are sensitive to price fluctuations. The following inventory information is available for this product at December 31, 2017.

Coffee Bean Units Unit Cost Market Coffea arabica 13,000 bags $5.60 $5.55 Coffea robusta 5,000 bags 3.40 3.50 Instructions Calculate Tascon’s inventory by applying the lower-of-cost-or-market basis.