Waterway 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: 238 $ 476 $ 113,288 Purchases: March 10 595 $ 536 $ 318,920 March 20 476 $ 565 $ 268,940 March 30 357 $ 595 $ 212,415 Sales: March 15 595 $ 643 $ 382,585 March 25 476 $ 678 $ 322,728 Inventory at March 31: 595 Commercial Pumps Inventory at Feb. 28: 714 $ 952 $ 679,728 Purchases: March 3 714 $ 1,071 $ 764,694 March 12 357 $ 1,131 $ 403,767 March 21 595 $ 1,190 $ 708,050 Sales: March 18 1,071 $ 1,285 $ 1,376,235 March 29 714 $ 1,357 $ 968,898 Inventory at March 31: 595 In addition to the above information, due to a downturn in the economy that has hit Waterways commercial customers especially hard, Waterway expects commercial pump prices from March 31 onward to be considerably different (and lower) than at the beginning of and during March. Waterway has developed the following additional information. Commercial Pumps Residential Pumps Net realizable value (per unit) $1,071 $690 The normal profit margin is 16.67% of cost. Waterway uses the FIFO accounting method. Incorrect answer iconYour answer is incorrect. Determine the dollar amount that Waterway should report on its March 31 balance sheet for inventory. Assume Waterway applies lower-of-cost-or-net realizable value at the individual product level. Total amount of inventory $ eTextbook and Media Incorrect answer iconYour answer is incorrect. Determine the dollar amount that Waterway should report on its March 31 balance sheet for inventory. Assume Waterway applies lower-of-cost-or-market at the major category level. Waterway places both commercial and residential pumps into the same (and only) category. Total amount of inventory $