Merle Industries had been selling its product for $40 per unit,but recently lowered the selling price to $30 per unit.The company's current inventory consists of 200 units purchased at $32 per unit.The market value of this inventory is currently $26 per unit.At what amount should the company's inventory be reported on the balance sheet?
A) $5,200
B) $6,400
C) $6,000
D) $8,000
Correct Answer:
Verified
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