A manager at a retail company needs to adjust the price of an item in their inventory database due to a recent change in supplier costs. Using appropriate commands, how would they modify the existing price for this item without affecting any other records in the database?
By using an INSERT statement with the new price for the item ID.
By using a SELECT statement with the new price where the item ID matches the specific product.
By deleting the item and adding it again with the new price.
By using an UPDATE statement to change the item's price where the item ID matches the specific product.