Rodriguez corporation sells its product a rare metal in a, Ask an Expert

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Rodriguez Corporation sells its product, a rare metal, in a controlled market with a quoted price applicable to all quantities. The total cost of 5,000 pounds of the metal now held in inventory is $210,000. The total selling price is $490,000, and estimated costs of disposal are $5,000. At what amount should the inventory of 5,000 pounds be reported in the balance sheet?

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Accounting Basics, Accounting

Category:- Accounting Basics
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