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.

			Units		Price per Unit					Total
Residential Pumps
	Inventory at Feb. 28:		202			$	404			$	81,608
Purchases:
	March 10		505			$	455			$	229,775
	March 20		404			$	480			$	193,920
	March 30		303			$	505			$	153,015
Sales:
	March 15		505			$	545			$	275,225
	March 25		404			$	576			$	232,704
	Inventory at March 31:		505
Commercial Pumps
	Inventory at Feb. 28:		606			$	808			$	489,648
Purchases:
	March 3		606			$	909			$	550,854
	March 12		303			$	960			$	290,880
	March 21		505			$	1,010			$	510,050
Sales:
	March 18		909			$	1,091			$	991,719
	March 29		606			$	1,151			$	697,506
	Inventory at March 31:		505

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		Residential Pumps
Net realizable value (per unit)		$909		$586

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

? $

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

? $