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Merle Industries had been seling its product for $48 per unit, but recently lowered the selling price to $29 per unit. The company's current inventory consists of 270 units purchased at $44 per unit. The market value of this inventory is currently $27 per unit. At what amount should the company's inventory be reported on the balance sheet? Multiple Choice $7,290 $11,880 $7830 $12.960