Can I change a purchased license of Mac OS Mountain Lion to a Mac OS Lion one?

Hi:
I thought my iMac 5,1 was capable to run Mac OS Mountain Lion, but after purchase it on App Store it seems not to work. I can't download it and I get a message that tells it's not compatible with my iMac.
So, I suppose I have to update to Mac OS Lion, what seems to be the newest SO it can run. Is it true? Is there any way to change my unused licence of MO Mountain Lion to a Mac OS Lion one?
Thans a lot in advance for your help.

There was another user here a couple of weeks ago who was told be Apple they would not get a refund, even though they hadn't downloaded the version of OS X they paid for yet. The reasoning being that it could be used by them at some time. Or said another way, there's no way (apparently) to remove a purchased item from your App Store list.
However, your case is different. The App Store shouldn't have allowed you to purchase Mountain Lion in the first place. It's supposed to do a hardware compatibility check before you even get as far as making the actual purchase.

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