Oriole Corporation sells its product, a rare metal, in a controlled market with a quoted price applicable to all quantities. The total cost of 4800 pounds of the metal now held in inventory is $310000. The total selling price is $862000, and estimated costs of disposal are $13800. At what amount should the inventory of 4800 pounds be reported in the balance sheet?

$848200.

$296200.

$310000.

$862000.