A company's normal selling price for its product is $21 per unit. However, due to market competition, the selling price has fallen to $16 per unit. This company's current inventory consists of 190 units purchased at $17 per unit. Replacement cost has fallen to $14 per unit. Calculate the value of this company's inventory at the lower of cost or market.
A. $3230.
B. $2610.
C. $2760.
D. $3040.
E. $2660.
Answer: E
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