ABC company follows the principle of lower of cost or net realizable value (NRV) to report its inventory. The following shows the data related to the inventory on 12/31/2020: Product Model Model X Model Y Model Z Model Alpha Units 20 15 10 30 Cost per unit $150 110 125 140 NRV per unit $155 105 115 150 What amount should ABC report its total cost of inventory on the 12/31/2020 Balance Sheet?