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Windsor Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated

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Answer #1

Solution

The amount of Blossom company Inventory = $41,767

Working

Item Quantity Cost per unit Estimated selling price (A) Cost to complete and sell (B) Realizable value (A-B) Total cost Total realizable value Lower of cost or realizable value
1320 2,000 $     3.46 $    4.86 $   1.73 $   3.13 $     6,920.00 $     6,260.00 $        6,260.00
1333 1,700 $     2.92 $    3.67 $   1.08 $   2.59 $     4,964.00 $     4,403.00 $        4,403.00
1426 1,600 $     4.86 $    5.40 $   1.51 $   3.89 $     7,776.00 $     6,224.00 $        6,224.00
1437 1,800 $     3.89 $    3.46 $   1.46 $   2.00 $     7,002.00 $     3,600.00 $        3,600.00
1510 1,500 $     2.43 $    3.51 $   1.51 $   2.00 $     3,645.00 $     3,000.00 $        3,000.00
1522 1,300 $     3.24 $    4.21 $   0.86 $   3.35 $     4,212.00 $     4,355.00 $        4,212.00
1573 3,800 $     1.94 $    2.70 $   1.30 $   1.40 $     7,372.00 $     5,320.00 $        5,320.00
1626 1,800 $     5.08 $    6.48 $   1.62 $   4.86 $     9,144.00 $     8,748.00 $        8,748.00
$      41,767.00
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