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

Multiple Choice

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 $560,000, and estimated costs of disposal are $10,000. At what amount should the inventory of 5,000 pounds be reported in the balance sheet?

A) $200,000.
B) $210,000.
C) $550,000.
D) $560,000.