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 130 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

• $2,600.

• $2,860.

• $2,700.

• $2,550.

• $2,990.