Apple Inc. has the following two iPhone products in its ending inventory. Compute lower of cost or market for inventory applied separately to each product: iPhone X = 10 units with cost per unit at $1,000 and market per unit at $500 and iPhone 13 = 10 units with cost per unit at $1,500 and market per unit at $1,700

• A. $20,000
• B. $25,000
• C. $27,000
• D. $29,500
• E. $22,000
• F. None of the choices is correct.