Question: I am looking for the correct answer to this general accounting question with appropriate explanations. A company normally sells its product for $30 per unit,

I am looking for the correct answer to this general accounting question with appropriate explanations.

A company normally sells its product for $30 per unit, but the selling price has recently declined to $22 per unit. This company's current inventory consists of 250 units purchased at $25 per unit. The replacement cost has now fallen to $20 per unit. Using the lower of cost or market method, calculate the value of this company's inventory

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