A companys normal selling price for its product is $24 per unit. However, due to market competition, the selling price has fallen to $19 per unit. This company's current inventory consists of 240 units purchased at $20 per unit. Replacement cost has fallen to $17 per unit. Calculate the value of this company's inventory at the lower of cost or market.

Multiple Choice

• $4,180.

• $4,800.

• $4,080.

• $4,560.

• $4,030.