Crane 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. Price per Unit Units Total 202 $ 404 $ 81,608 505 404 303 $ 455 $ 480 $ 505 $ 229,775 $ 193,920 $ 153,015 505 404 505 $ 545 $ 576 $ 275,225 $ 232,704 Residential Pumps Inventory at Feb. 28: Purchases: March 10 March 20 March 30 Sales: March 15 March 25 Inventory at March 31: Commercial Pumps Inventory at Feb. 28: Purchases: March 3 March 12 March 21 Sales: March 18 March 29 Inventory at March 31: 606 $ 808 $ 489,648 606 303 505 $ 909 $ 960 $ 1,010 $ 550,854 $ 290,880 $ 510,050 909 606 505 $ 1.091 $ 1,151 $ 991.719 $ 697,506 In addition to the above information, due to a downturn in the economy that has hit Cranes commercial customers especially hard, Crane expects commercial pump prices from March 31 onward to be considerably different (and lower) than at the beginning of and during March. Crane has developed the following additional information. Commercial Pumps $909 Residential Pumps $586 Net realizable value (per unit) The normal profit margin is 16.67% of cost. Crane uses the FIFO accounting method. Determine the dollar amount that Crane should report on its March 31 balance sheet for inventory. Assume Crane applies lower-of-cost-or-net realizable value at the individual product level. Total amount of inventory $ e Textbook and Media Determine the dollar amount that Crane should report on its March 31 balance sheet for inventory. Assume Crane applies lower-of-cost-or-market at the major category level. Crane places both commercial and residential pumps into the same (and only) category. Total amount of inventory $ e Textbook and Media