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The total selling price is 420000 and estimated costs of

Mortenson 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 $420,000, and estimated costs of disposal are $15,000. At what amount should the inventory of 5,000 pounds be reported in the balance sheet?

a. $135,000.

b. $150,000.

c. $405,000.

d. $420,000

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Accounting Basics: The total selling price is 420000 and estimated costs of

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