Pacific Woodworks, Inc. has an inventory of a very unique wood that was purchased for $10,000 five years ago.

Currently the market value of this wood is $23,000.

The production department has proposed to use this wood for making 1,000 statuettes and sell them for $20 each.

All other expenses for making one statuette is $6 per statuette not including the cost of wood.Question:Is the proposal economically viable versus just selling the wood?Please explain your answer.