Lightbox Inc. is a wholesaler of lighting. It purchased 1,200 units of light fixtures for $600 each during 2018. The selling price during the year was $800 per unit. At year end, it had 200 units on hand and due to changes in trends, the selling price will have to be reduced by 20% in order to sell them. Based on the LCNRV rule, the value of each unit of light fixtures for the year-end inventory presentation should be

Select one:

$280

$520

$680

$600