A company's normal selling price for its product is $23 per unit. However, due to market competition, the selling price has fallen to $18 per unit.
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A company's normal selling price for its product is $23 per unit. However, due to market competition, the selling

price has fallen to $18 per unit. This company's current FIFO inventory consists of 230 units purchased at $19 per unit. Net realizable value has fallen to $16 per unit. Calculate the value of this company's inventory at the lower of cost or market.


a. $3,780


b. $3,630


c. $4,370


d. $4,140


e. $3,680

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