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On december 31, 2019, cruise company has 10,000 units of an inventory item, which cost $40 per unit when purchased on june 15, 2019. the selling price was $60 per unit. on december 30, 2019, it was determined that the cost to sell is $24 per unit. at what amount should the 10,000 units of inventory be reported at on the december 31, 2019 balance sheet?
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