Pettengal Corporation Sells Its Product, a Rare Metal, in a Controlled

Multiple Choice

Pettengal 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 $150,000.The total selling price is $350,000, and estimated costs of disposal are $5,000.At what amount should the inventory of 5,000 pounds be reported in the balance sheet?

A) $145,000.
B) $150,000.
C) $345,000.
D) $350,000.