An analysis of the inventory owned by Owens Company as of the Company's fiscal closing date is shown in the following table. Item B C D Quantity 300 100 200 120 Cost Per Unit $30 $50 $44 $25 Market Value Per Unit $27 $55 $40 $30 Assuming Owens applies the lower-of-cost-or-market rule on an individual basis, the Company would be required to recognize an expense amounting to Multiple Choice $1700 O $2.200 52 800 $100