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Arizona Mining sells its product, a rare metal, in a controlled market with a quoted price applicable to all quantities. The total cost of 5

Arizona Mining 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 could the inventory of 5,000 pounds be reported on the balance sheet, if not at cost?

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