(Answered) Question - a companys normal selling price for its product

Accounting

Question - A company's normal selling price for its product is $20 per unit. However, due to market competition, the selling price has fallen to $15 per unit. This company's current inventory consists of 200 units purchased at $16 per unit. Replacement cost has fallen to $13 per unit. Calculate the value of this company's inventory at the lower of cost or market.

$2,550.

$2,600.

$2,700.

$3,000.

$3,200.

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