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A companys normal selling price for its product is $27 per unit. However, due to market competition, the selling price has fallen to $22 per

A companys normal selling price for its product is $27 per unit. However, due to market competition, the selling price has fallen to $22 per unit. This company's current FIFO inventory consists of 270 units purchased at $23 per unit. Net realizable value has fallen to $20 per unit. Calculate the value of this company's inventory at the lower of cost or market.

Multiple Choice

  • $5,500.

  • $5,350.

  • $6,210.

  • $5,400.

  • $5,940.

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