An item of inventory is purchased for \($1,500.\) The sales price was \($2,000,\) but as the item has now been replaced by a new model, it can only be sold for a discounted price of \($1,350.\) The scrap value of the item is \($1,100.\) To sell or scrap the inventory will involve transport costs of \($100.\) The value of the inventory for statement of financial position purposes is

a. $1,500

b. $1,350

c. $1,250

d. $1,000