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?