On December 31, 2019, Cruise Company has 10,000 units of an…
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? Enter your answer without a comma, dollar sign, or decimal point.