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Sandhill Corporation sells its product, a rare metal, in a controlled market with a quoted price applicable to all quantities. The total cost of 4000

image text in transcribed Sandhill Corporation sells its product, a rare metal, in a controlled market with a quoted price applicable to all quantities. The total cost of 4000 pounds of the metal now held in inventory is $194000. The total selling price is $560000, and the estimated costs of disposal are $20500. At what amount should the inventory of 4000 pounds be reported in the balance sheet? $194000.$539500.$173500.$560000. Sandhill Corporation sells its product, a rare metal, in a controlled market with a quoted price applicable to all quantities. The total cost of 4000 pounds of the metal now held in inventory is $194000. The total selling price is $560000, and the estimated costs of disposal are $20500. At what amount should the inventory of 4000 pounds be reported in the balance sheet? $194000.$539500.$173500.$560000

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