Tamarisk 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: 232 $ 464 $ 107,648 Purchases: March 10 580 $ 522 $ 302,760 March 20 464 $ 551 $ 255,664 March 30 348 $ 580 $ 201,840 Sales: March 15 580 $ 626 $ 363,080 March 25 464 $ 661 $ 306,704 Inventory at March 31: 580 Commercial Pumps Inventory at Feb. 28: 696 $ 928 $ 645,888 Purchases: March 3 696 $ 1,044 $ 726,624 March 12 348 $ 1,102 $ 383,496 March 21 580 $ 1,160 $ 672,800 Sales: March 18 1,044 $ 1,253 $ 1,308,132 March 29 696 $ 1,322 $ 920,112 Inventory at March 31: 580 In addition to the above information, due to a downturn in the economy that has hit Tamarisks commercial customers especially hard, Tamarisk expects commercial pump prices from March 31 onward to be considerably different (and lower) than at the beginning of and during March. Tamarisk has developed the following additional information. Commercial Pumps Residential Pumps Net realizable value (per unit) $1,044 $673 The normal profit margin is 16.67% of cost. Tamarisk uses the FIFO accounting method. Incorrect answer iconYour answer is incorrect. Determine the dollar amount that Tamarisk should report on its March 31 balance sheet for inventory. Assume Tamarisk applies lower-of-cost-or-net realizable value at the individual product level. Total amount of inventory $ eTextbook and Media New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect. Determine the dollar amount that Tamarisk should report on its March 31 balance sheet for inventory. Assume Tamarisk applies lower-of-cost-or-market at the major category level. Tamarisk places both commercial and residential pumps into the same (and only) category. Total amount of inventory $.