Cullumber Company sells coffee beans, which are sensitive to price fluctuations. The following inventory information is available for this product at December 31, 2017: Unit cost Market Value/Unit Coffee Bean Type Coffea Arabica Units of inventory 14,200 $5.30 $5.24 Coffea robusta 5,100 $3.70 $3.80 Calculate the value Cullumber should report for ending inventory on December 31, 2017 after applying the lower-of-cost-or- market rule