Mallard Auto Parts, Inc. has on hand $1,000$ fenders for $1953$ Studebakers. Mallard purchased the fenders in $1968$ for $$30$ each and the selling price is $$400$ each. Only rarely does Mallard sell a Studebaker fender and it is highly unlikely that more than $100$ of the remaining fenders will ever be sold. However, Mallard has ample storage space and feels an obligation to Studebaker owners. Therefore, the company will not salvage the fenders and will continue to sell them for $$400$ each. Scrap value of the fenders is $$5$ each. Under the lower of cost or market inventory method:

a$.$ Mallard can expense the $900$ excess fenders.

b$.$ Mallard should value the fenders at $$5,000(1,000$$$5).$

c$.$ Mallard can expense all $1,000$ of the fendys because of the unlikelihood they will be sold.

d$.$ None of these choices are correct