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3 Other Valuation Approaches Carbondale Seed Co. sells wheatgrass seed in a controlled...

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Accounting

3 Other Valuation Approaches
Carbondale Seed Co. sells wheatgrass seed in a controlled market with a quoted price applicable to all quantities. The total cost of 12,000 bushels of wheatgrass seed now held in inventory is $410,000. The total selling price is $670,000, and estimated costs of disposal are $20,000. What is the value of the wheatgrass seed that could be reported on the balance sheet, if not at cost?
$240,000
$670,000
$420,000
$650,000
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