4 - A retailer that prepares its financial statements in accordance with IFRS has 100 office chairs in its inventory with a suggested retail price of $240 each. It paid on average $200 each to a supplier for these chairs. Demand for office chairs has been low for quite a while and the retailer estimates it can sell those chairs for $180 each if it offers free shipping to its customers at an average cost of $10 per chair. The supplier has also lowered its price to $160 in response to the low demand. The total carrying amount of these 100 office chairs on the retailer’s balance sheet would be closest to:
a) $16,000.
b) $17,000.
c) $18,000.