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Taylor Music Center has 5 CD players on hand at the balance sheet date. Each cost $400. The current replacement cost is $380 per unit.

Taylor Music Center has 5 CD players on hand at the balance sheet date. Each cost $400. The current replacement cost is $380 per unit. Under the lower-of-cost-or-market basis of accounting for inventories, what value should be reported for the CD players on the balance sheet?

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