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Wildhorse Corporation sells its product, a rare metal, in a controlled market with a quoted price applicable to all quantities. The total cost of 5100
Wildhorse Corporation sells its product, a rare metal, in a controlled market with a quoted price applicable to all quantities. The total cost of 5100 pounds of the metal now held in inventory is $319000. The total selling price is $854000, and the estimated costs of disposal are $15300. At what amount should the inventory of 5100 pounds be reported in the balance sheet? $838700.$319000.$854000.$303700
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