Blue Company sells two types of pumps. One is large and is for commercial use. The other is smaller and is used in residential swimming pools. The following inventory data is available for the month of March.

			Units		Price per Unit					Total
Residential Pumps
	Inventory at Feb. 28:		244			$	488			$	119,072
Purchases:
	March 10		610			$	549			$	334,890
	March 20		488			$	580			$	283,040
	March 30		366			$	610			$	223,260
Sales:
	March 15		610			$	659			$	401,990
	March 25		488			$	695			$	339,160
	Inventory at March 31:		610
Commercial Pumps
	Inventory at Feb. 28:		732			$	976			$	714,432
Purchases:
	March 3		732			$	1,098			$	803,736
	March 12		366			$	1,159			$	424,194
	March 21		610			$	1,220			$	744,200
Sales:
	March 18		1,098			$	1,318			$	1,447,164
	March 29		732			$	1,391			$	1,018,212
	Inventory at March 31:		610

In addition to the above information, due to a downturn in the economy that has hit Blues commercial customers especially hard, Blue expects commercial pump prices from March 31 onward to be considerably different (and lower) than at the beginning of and during March. Blue has developed the following additional information.

		Commercial Pumps		Residential Pumps
Net realizable value (per unit)		$1,098		$708

The normal profit margin is 16.67% of cost. Blue uses the FIFO accounting method.

Your answer is correct. Determine the dollar amount that Blue should report on its March 31 balance sheet for inventory. Assume Blue applies lower-of-cost-or-net realizable value at the individual product level. Total amount of inventory $ 1034560 e Textbook and Media Your answer is incorrect. Determine the dollar amount that Blue should report on its March 31 balance sheet for inventory. Assume Blue applies lower-of-cost-or-market at the major category level. Blue places both commercial and residential pumps into the same (and only) category. Total amount of inventory $ e Textbook and Media