During the year ending 31 December 2020 a retailer purchased inventory comprising 625 machines, each costing 150. During the financial year the retailer sold 597 machines at 450 each. Due to technological advances, the replacement cost of the machines has now fallen to 125 each. The retailer can sell the remaining machines for a price of 200 per machine but will incur selling costs of 700 in total to make the assets available for sale.

Required:

What is the Value of the remaining inventory in the financial statements of the retailer at 31 December 2020?

A 4,200

B 3,500

C 6,300

D 4,900