Question: QUESTION 3 2 points Save Answer Cullumber Company sells coffee beans, which are sensitive to price fluctuations. The following inventory information is available for this

QUESTION 3 2 points Save Answer Cullumber Company sells coffee beans,

QUESTION 3 2 points Save Answer Cullumber Company sells coffee beans, which are sensitive to price fluctuations. The following inventory information is available for this product at December 31, 2017: Coffee Bean Type Units of inventory Unit cost Market Value/Unit Coffea Arabica 15,200 $5.40 $5.32 Coffea robusta 6,100 $4.20 $5.00 Calculate the value Cullumber should report for ending inventory on December, 31, 2017 after applying the lower-of-cost-or- market rule

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