Question: Step by step explanation i need. A retailer had been selling its product for $45 per unit, but recently lowered the selling price to $28

Step by step explanation i need.

A retailer had been selling its product for $45 per unit, but recently lowered the selling price to $28 per unit. The retailer's current inventory consists of 180 units purchased at $35 per unit. The market value of this inventory is currently $25 per unit. At what amount should the retailer's inventory be reported on the balance sheet? a) $6,300 b) $4,500 c) $5,040 d) $4,900

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