On December 1, Nowitsky Corporation purchases inventory with a cost of $34,000. On December 15, the market value of the inventory was $35,000. On December 31, the market value of the inventory declined to $30,000. What should the carrying value of inventory be on Nowitskys books on December 31, assuming the decrease in inventory value is considered permanent? A $34,000 B $30,000 C $34,500 D $35,000