Lipton Hardware prepared the following schedule of unit costs and market prices for three items of merchandise inventory. Item Units Cost per unit Market price per unit A 1,000 $.50 $.55 B 2,000 .45 .30 C 1,500 .60 .75 Applying the lower-of-cost-or-market price rule, the total value of the entire inventory of the units would be reported as which of the following?