Assume that Bob's Boards has the following LIFO perpetual inventory record for skateboards for the month of March: Skateboards Cost of Inventory Date Purchases goods sold on hand March 1 $9,460 8 $1,670 $11,130 19 $2,140 $8,990 30 $1,810 $10,800 At March 31, the accountant for Bob's Boards determines that the current replacement cost of the ending inventory is $ 10 comma 640. Make any adjusting entry needed to apply the lower-of-cost-or-market rule. Inventory would be reported on the balance sheet at what value on March 31? (Record debits first, then credits. Exclude explanations from any journal entries.)