Bramble Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. From...
Bramble Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis.
From the information below, determine the amount of Bramble
Company inventory. _______
|
Item No. |
Quantity |
Cost |
Estimated |
Cost to Complete |
||||
|---|---|---|---|---|---|---|---|---|
|
1320 |
1,800 | $3.65 | $5.13 | $1.82 | ||||
|
1333 |
1,500 | 3.08 | 3.88 | 1.14 | ||||
|
1426 |
1,400 | 5.13 | 5.70 | 1.60 | ||||
|
1437 |
1,600 | 4.10 | 3.65 | 1.54 | ||||
|
1510 |
1,300 | 2.57 | 3.71 | 1.60 | ||||
|
1522 |
1,100 | 3.42 | 4.45 | 0.91 | ||||
|
1573 |
3,600 | 2.05 | 2.85 | 1.37 | ||||
|
1626 |
1,600 | 5.36 | 6.84 | 1.71 |
Homework Answers
|
Item No. |
Quantity |
Cost per Unit |
Estimated Selling Price |
Cost to Complete and Sell |
NRV (Estimated Selling Price - Cost to Complete and Sell) |
Lower of cost per unit or NRV per unit |
Inventory value (LCNRV*quantity) |
|
1320 |
1800 |
3.65 |
5.13 |
1.82 |
3.31 |
3.31 |
5958 |
|
1333 |
1500 |
3.08 |
3.88 |
1.14 |
2.74 |
2.74 |
4110 |
|
1426 |
1400 |
5.13 |
5.70 |
1.60 |
4.10 |
4.10 |
5740 |
|
1437 |
1600 |
4.10 |
3.65 |
1.54 |
2.11 |
2.11 |
3376 |
|
1510 |
1300 |
2.57 |
3.71 |
1.60 |
2.11 |
2.11 |
2743 |
|
1522 |
1100 |
3.42 |
4.45 |
0.91 |
3.54 |
3.42 |
3762 |
|
1573 |
3600 |
2.05 |
2.85 |
1.37 |
1.48 |
1.48 |
5328 |
|
1626 |
1600 |
5.36 |
6.84 |
1.71 |
5.13 |
5.13 |
8208 |
|
$39225 |
Amount of Bramble Company inventory = $39225
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Bramble Company follows the practice of pricing its inventory at
LCNRV, on an individual-item basis.
From...
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