Manny Company has leased a mine, from which it recently extracted 100 kilograms of gypsum (a mineral that can be used to produce drywall). The company plans to sell the gypsum to building materials manufacturers. The company is analyzing whether its gypsum inventory can be carried at its selling price per ASC 330-10-35-16(b). Assume that quoted market prices are generally available for gypsum, and that the market for gypsum is active.

ASC 330-10-35-16(b) states that inventories representing agricultural, mineral, and other products, with all of the following criteria:

1. Units of which are interchangeable

2. Units of which have immediate marketability at quoted prices

3. Units for which appropriate costs may be difficult to obtain.

Is all of the three criteria met? Explain