A Corporation had sold its product for $48 per unit, but recently lowered the selling price to $29 per unit. The company's current inventory consists of 270 units purchased at $44 per unit. The market value of this inventory is currently $27 per unit. At what amount should the company's inventory be reported on the balance sheet using lower of cost or market rules?
Multiple Choice
$12,960
$7,830
$7,290
$11,880