Pharoah Inc. is a wholesaler of electronics. It purchased 2900 units of Product X for $2300 each during 2022. The selling price during the year was $2500 per unit. At year end, it had 200 units on hand and due to changes in technology, the selling price will have to be reduced by 35% in order to sell them. The value of each unit of Product X for the year-end inventory presentation should be

$2500.

$2300.

$875.

$1625.