Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and...
|
Item No. |
Quantity |
Cost per Unit |
Cost to Replace |
Estimated Selling Price |
Cost of Completion and Disposal |
Normal Profit |
||||||||||||
| 1320 | 1,400 | $3.84 | $3.60 | $5.40 | $0.42 | $1.50 | ||||||||||||
| 1333 | 1,100 | 3.24 | 2.76 | 4.20 | 0.60 | 0.60 | ||||||||||||
| 1426 | 1,000 | 5.40 | 4.44 | 6.00 | 0.48 | 1.20 | ||||||||||||
| 1437 | 1,200 | 4.32 | 3.72 | 3.84 | 0.30 | 1.08 | ||||||||||||
| 1510 | 900 | 2.70 | 2.40 | 3.90 | 0.96 | 0.72 | ||||||||||||
| 1522 | 700 | 3.60 | 3.24 | 4.56 | 0.48 | 0.60 | ||||||||||||
| 1573 | 3,200 | 2.16 | 1.92 | 3.00 | 0.90 | 0.60 | ||||||||||||
| 1626 | 1,200 | 5.64 | 6.24 | 7.20 | 0.60 | 1.20 | ||||||||||||
Company A follows the practice of pricing its inventory at the
lower-of-cost-or-market, on an individual-item basis.
From the information above, determine the amount of Company A
inventory.
| The amount of Company A's inventory | $
|
Homework Answers
| Item No. | Quantity | Cost per Unit | Cost to Replace | Estimated Selling Price | Cost of Completion and Disposal | Normal Profit | NRV | NRV less normal profit | Market | Lower of cost or market | Inventory value |
| 1320 | 1,400 | $3.84 | $3.60 | $5.40 | $0.42 | $1.50 | $4.98 | $3.48 | $3.60 | $3.60 | $5,040 |
| 1333 | 1,100 | $3.24 | $2.76 | $4.20 | $0.60 | $0.60 | $3.60 | $3.00 | $3.00 | $3.00 | $3,300 |
| 1426 | 1000 | $5.40 | $4.44 | $6.00 | $0.48 | $1.20 | $5.52 | $4.32 | $4.44 | $4.44 | $4,440 |
| 1437 | 1,200 | $4.32 | $3.72 | $3.84 | $0.30 | $1.08 | $3.54 | $2.46 | $3.54 | $3.54 | $4,248 |
| 1510 | 900 | $2.70 | $2.40 | $3.90 | $0.96 | $0.72 | $2.94 | $2.22 | $2.40 | $2.40 | $2,160 |
| 1522 | 700 | $3.60 | $3.24 | $4.56 | $0.48 | $0.60 | $4.08 | $3.48 | $3.48 | $3.48 | $2,436 |
| 1573 | 3,200 | $2.16 | $1.92 | $3.00 | $0.90 | $0.60 | $2.10 | $1.50 | $1.92 | $1.92 | $6,144 |
| 1626 | 1,200 | $5.64 | $6.24 | $7.20 | $0.60 | $1.20 | $6.60 | $5.40 | $6.24 | $5.64 | $6,768 |
| Total | $34,536 | ||||||||||
| The amount of A Company’s inventory = $34536 | |||||||||||
Add Answer to:
Item No.
Quantity
Cost per Unit
Cost to Replace
Estimated Selling Price
Cost of Completion and...
Oriole Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Oriole Company follows the practice of pricing its inventory at
the lower-of-cost-or-market, on an individual-item basis.
x Your answer is incorrect Oriole Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis Estimated Selling Price Cost of Completion and Disposal Cost to Replace Item No. Quantity Cost per Unit Normal Profit $3.84 $3.60 $5.40 $0.42 $150 1320 1400 0.60 1333 1100 3.24 2.76 4.20 0.60 1000 5.40 1426 4.44 6.00 0.48 120 1200 4.32 108...
Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estim...
Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 1,600 $3.84 $5.40 $1.92 1333 1,300 3.24 4.08 1.20 1426 1,200 5.40 6.00 1.68 1437 1,400 4.32 3.84 1.62 1,100 2.70 3.90 1.68 900 3.60 4.68 0.96 1510 1522 1573 1626 3,400 2.16 3.00 1.44 1,400 5.64 7.20 1.80 From the information above, determine the amount of Oriole Company inventory....
Sunland Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Esti...
Sunland Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 1,700 $3.62 $5.09 $1.81 1333 1,400 3.05 3.84 1.13 1426 1,300 5.09 5.65 1.58 1437 1,500 4.07 3.62 1.53 1510 1,200 2.54 3.67 1.58 1522 1,000 3.39 4.41 0.90 1573 3,500 2.03 2.83 1.36 1626 1,500 5.31 6.78 1.70 From the information above, determine the amount of Sunland Company inventory....
Stellar Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Stellar Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit 1320 1,400 $3.81 $3.57 $5.36 $0.42 $1.49 1333 1,100 3.21 2.74 4.17 0.60 0.60 1426 1,000 5.36 4.40 5.95 0.48 1.19 1437 1,200 4.28 3.69 3.81 0.30 1.07 1510 900 2.68 2.38 3.87 0.95 0.71 1522 700 3.57 3.21 4.52 0.48 0.60 1573 3,200 2.14...
1426 1.40 Problem 1: LCNRV Anderson Company values inventory using LCNRV, on an individual-item basis. Item...
1426 1.40 Problem 1: LCNRV Anderson Company values inventory using LCNRV, on an individual-item basis. Item No. Quantity Cost per Unit Estimated Selling Price Cost to Complete and Sell 1320 1,200 $3.20 $4.50 $1.60 1333 900 2.70 3.40 1.00 800 4.50 5.00 1,000 3.60 3.20 1.35 1510 3.25 1.40 1522 500 3.90 0.80 3,000 1.80 2.50 1.20 1626 1,000 4.70 6.00 1.50 Instructions From the information above, determine the amount of Anderson Company inventory. 1437 700 2.25 3.00 1573
Marigold Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost...
Marigold Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 1,600 $3.33 $4.68 $1.66 1333 1,300 2.81 3.54 1.04 1426 1,200 4.68 5.20 1.46 1437 1,400 3.74 3.33 1.40 1510 1,100 2.34 3.38 1.46 1522 900 3.12 4.06 0.83 1573 3,400 1.87 2.60 1.25 1626 1,400 4.89 6.24 1.56 From the information above, determine the amount of Marigold Company inventory....
Windsor Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost...
Windsor Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 2,000 $3.46 $4.86 $1.73 1333 1,700 2.92 3.67 1.08 1426 1,600 4.86 5.40 1.51 1437 1,800 3.89 3.46 1.46 1510 1,500 2.43 3.51 1.51 1522 1,300 3.24 4.21 0.86 1573 3,800 1.94 2.70 1.30 1626 1,800 5.08 6.48 1.62 From the information above, determine the amount of Windsor Company inventory....
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Windsor Company follows the practice of pricing its inventory at
the lower-of-cost-or-market, on an individual-item basis.
Item No.
Quantity
Cost per Unit
Cost to Replace
Estimated Selling Price
Cost of Completion and Disposal
Normal Profit
1320
1,600
$3.46
$3.24
$4.86
$0.38
$1.35
1333
1,300
2.92
2.48
3.78
0.54
0.54
1426
1,200
4.86
4.00
5.40
0.43
1.08
1437
1,400
3.89
3.35
3.46
0.27
0.97
1510
1,100
2.43
2.16
3.51
0.86
0.65
1522
900
3.24
2.92
4.10
0.43
0.54
1573
3,400
1.94...
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Cost to Replace Normal Profit 1320 1,600 $3.46 $3.24 $4.86 $0.38 $1.35 1333 1,300 2.92 2.48 3.78 0.54 0.54 1426 1,200 4.86 4.00 5.40 0.43 1.08 1437 1,400 3.89 3.35 3.46 0.27 0.97 1510 1,100 2.43 2.16 3.51 0.86 0.65 1522 900 3.24 2.92 4.10 0.43 0.54 1573 3,400 1.94...
Exercise 9-7 Kingbird Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...
Exercise 9-7 Kingbird Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Item No. 1320 1333 Estimated Selling Price $5.36 4.17 5.95 1426 Quantity 1,400 1,100 1,000 1,200 900 700 3,200 1,200 Cost to Replace $3.57 2.74 4.40 3.69 2.38 3.21 1.90 6.19 Unit $3.81 3.21 5.36 4.28 2.68 3.57 2.14 5.59 Cost of Completion and Disposal $0.42 0.60 0.48 0.30 0.95 0.48 0.89 0.60 Normal Profit $1.49 0.60 1.19 1.07 1437...
Oriole Company follows the practice of pricing its inventory at
the lower-of-cost-or-market, on an individual-item basis.
x Your answer is incorrect Oriole Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis Estimated Selling Price Cost of Completion and Disposal Cost to Replace Item No. Quantity Cost per Unit Normal Profit $3.84 $3.60 $5.40 $0.42 $150 1320 1400 0.60 1333 1100 3.24 2.76 4.20 0.60 1000 5.40 1426 4.44 6.00 0.48 120 1200 4.32 108...
Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 1,600 $3.84 $5.40 $1.92 1333 1,300 3.24 4.08 1.20 1426 1,200 5.40 6.00 1.68 1437 1,400 4.32 3.84 1.62 1,100 2.70 3.90 1.68 900 3.60 4.68 0.96 1510 1522 1573 1626 3,400 2.16 3.00 1.44 1,400 5.64 7.20 1.80 From the information above, determine the amount of Oriole Company inventory....
Sunland Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 1,700 $3.62 $5.09 $1.81 1333 1,400 3.05 3.84 1.13 1426 1,300 5.09 5.65 1.58 1437 1,500 4.07 3.62 1.53 1510 1,200 2.54 3.67 1.58 1522 1,000 3.39 4.41 0.90 1573 3,500 2.03 2.83 1.36 1626 1,500 5.31 6.78 1.70 From the information above, determine the amount of Sunland Company inventory....
1426 1.40 Problem 1: LCNRV Anderson Company values inventory using LCNRV, on an individual-item basis. Item No. Quantity Cost per Unit Estimated Selling Price Cost to Complete and Sell 1320 1,200 $3.20 $4.50 $1.60 1333 900 2.70 3.40 1.00 800 4.50 5.00 1,000 3.60 3.20 1.35 1510 3.25 1.40 1522 500 3.90 0.80 3,000 1.80 2.50 1.20 1626 1,000 4.70 6.00 1.50 Instructions From the information above, determine the amount of Anderson Company inventory. 1437 700 2.25 3.00 1573
Marigold Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 1,600 $3.33 $4.68 $1.66 1333 1,300 2.81 3.54 1.04 1426 1,200 4.68 5.20 1.46 1437 1,400 3.74 3.33 1.40 1510 1,100 2.34 3.38 1.46 1522 900 3.12 4.06 0.83 1573 3,400 1.87 2.60 1.25 1626 1,400 4.89 6.24 1.56 From the information above, determine the amount of Marigold Company inventory....
Windsor Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 2,000 $3.46 $4.86 $1.73 1333 1,700 2.92 3.67 1.08 1426 1,600 4.86 5.40 1.51 1437 1,800 3.89 3.46 1.46 1510 1,500 2.43 3.51 1.51 1522 1,300 3.24 4.21 0.86 1573 3,800 1.94 2.70 1.30 1626 1,800 5.08 6.48 1.62 From the information above, determine the amount of Windsor Company inventory....
Windsor Company follows the practice of pricing its inventory at
the lower-of-cost-or-market, on an individual-item basis.
Item No.
Quantity
Cost per Unit
Cost to Replace
Estimated Selling Price
Cost of Completion and Disposal
Normal Profit
1320
1,600
$3.46
$3.24
$4.86
$0.38
$1.35
1333
1,300
2.92
2.48
3.78
0.54
0.54
1426
1,200
4.86
4.00
5.40
0.43
1.08
1437
1,400
3.89
3.35
3.46
0.27
0.97
1510
1,100
2.43
2.16
3.51
0.86
0.65
1522
900
3.24
2.92
4.10
0.43
0.54
1573
3,400
1.94...
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Cost to Replace Normal Profit 1320 1,600 $3.46 $3.24 $4.86 $0.38 $1.35 1333 1,300 2.92 2.48 3.78 0.54 0.54 1426 1,200 4.86 4.00 5.40 0.43 1.08 1437 1,400 3.89 3.35 3.46 0.27 0.97 1510 1,100 2.43 2.16 3.51 0.86 0.65 1522 900 3.24 2.92 4.10 0.43 0.54 1573 3,400 1.94...
Exercise 9-7 Kingbird Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Item No. 1320 1333 Estimated Selling Price $5.36 4.17 5.95 1426 Quantity 1,400 1,100 1,000 1,200 900 700 3,200 1,200 Cost to Replace $3.57 2.74 4.40 3.69 2.38 3.21 1.90 6.19 Unit $3.81 3.21 5.36 4.28 2.68 3.57 2.14 5.59 Cost of Completion and Disposal $0.42 0.60 0.48 0.30 0.95 0.48 0.89 0.60 Normal Profit $1.49 0.60 1.19 1.07 1437...
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