A business usually sells its product for $105 per unit. It has recently come to our attention that the expected unit selling price has fallen to $ 65 per unit. Our current inventory includes 110 units purchased at $ 60 per unit. Calculate the value of the inventory at the lower of cost and net realizable value.

Select one:

a.

$ 8,500

b.

$ 7,150

c.

$ 6,600

d.

$ 11,550

e.

$ 7,000