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 | 1,600 | $3.94 | $3.69 | $5.54 | $0.43 | $1.54 | $5.11 | $3.57 | $3.69 | $3.69 | $5,904 |
| 1333 | 1,300 | 3.32 | 2.83 | 4.31 | 0.62 | 0.62 | $3.69 | $3.07 | $3.07 | $3.07 | $3,991 |
| 1426 | 1200 | 5.54 | 4.55 | 6.15 | 0.49 | 1.23 | $5.66 | $4.43 | $4.55 | $4.55 | $5,460 |
| 1437 | 1,400 | 4.43 | 3.81 | 3.94 | 0.31 | 1.11 | $3.63 | $2.52 | $3.63 | $3.63 | $5,082 |
| 1510 | 1100 | 2.77 | 2.46 | 4.00 | 0.98 | 0.74 | $3.02 | $2.28 | $2.46 | $2.46 | $2,706 |
| 1522 | 900 | 3.69 | 3.32 | 4.67 | 0.49 | 0.62 | $4.18 | $3.56 | $3.56 | $3.56 | $3,204 |
| 1573 | 3,400 | 2.21 | 1.97 | 3.08 | 0.92 | 0.62 | $2.16 | $1.54 | $1.97 | $1.97 | $6,698 |
| 1626 | 1,400 | 5.78 | 6.40 | 7.38 | 0.62 | 1.23 | $6.76 | $5.53 | $6.40 | $5.78 | $8,092 |
| Total | $41,137 | ||||||||||
| The amount of Blossom Company’s inventory = $41137 | |||||||||||
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Blossom Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Exercise 9-7 Martinez Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...
Exercise 9-7 Martinez Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit $3.94 3.32 Item No. 1320 1333 1426 1437 1510 1522 1573 1626 5.54 Cost of Completion and Disposal $0.43 0.62 0.49 Quantity 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Estimated Selling Price $5.54 4.31 6.15 3.94 4.00 4.67 3.08 7.38 Cost to Replace $3.69 2.83 4.55 3.81 2.46 3.32 1.97 6.40 Normal Profit $1.54 . 0.62 1.23 1.11...
need help, i got the wrong answer CALCU Exercise 9-7 23 Your answer is incorrect. Try...
need help, i got the wrong answer
CALCU Exercise 9-7 23 Your answer is incorrect. Try again. Martinez Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual item basis Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.94 3.32 5.54 4.43 2.77 3.69 2.21 5.78 Cost to Replace $3.69 2.83 4.55 3.81 2.46 3.32 1.97 6.40 Estimated Selling Price $5.54 4.31...
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...
Sheridan Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Sheridan 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 $3.42 $3.21 $4.82 $0.37 $1.34 1333 1,300 2.89 2.46 3.75 0.54 0.54 1426 1,200 4.82 3.96 5.35 0.43 1.07 1437 1,400 3.85 3.32 3.42 0.27 0.96 1510 1,100 2.41 2.14 3.48 0.86 0.64 1522 900 3.21 2.89 4.07 0.43 0.54 1573 3,400 1.93...
Splish Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Splish 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
1,500
$3.90
$3.66
$5.49
$0.43
$1.53
1333
1,200
3.29
2.81
4.27
0.61
0.61
1426
1,100
5.49
4.51
6.10
0.49
1.22
1437
1,300
4.39
3.78
3.90
0.31
1.10
1510
1,000
2.75
2.44
3.97
0.98
0.73
1522
800
3.66
3.29
4.64
0.49
0.61
1573
3,300
2.20...
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...
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...
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 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...
Novak Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Novak Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Estimated Selling Cost to Cost of Completion Normal Quantity Item No. Unit Replace Price and Disposal Profit $4.00 1,700 $3.75 $5.63 $0.44 $1.56 1320 0.63 1333 1,400 3.38 2.88 4.38 0.63 1,300 1426 5.63 4.63 6.25 0.50 1.25 1437 1,500 4.50 3.88 4.00 0.31 1.13 1510 1,200 2.81 2.50 4.06 1.00 0.75 1522 1,000 3.75 3.38 4.75 0.50 0.63 0.63 1573 3,500...
Exercise 9-7 Martinez Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit $3.94 3.32 Item No. 1320 1333 1426 1437 1510 1522 1573 1626 5.54 Cost of Completion and Disposal $0.43 0.62 0.49 Quantity 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Estimated Selling Price $5.54 4.31 6.15 3.94 4.00 4.67 3.08 7.38 Cost to Replace $3.69 2.83 4.55 3.81 2.46 3.32 1.97 6.40 Normal Profit $1.54 . 0.62 1.23 1.11...
need help, i got the wrong answer
CALCU Exercise 9-7 23 Your answer is incorrect. Try again. Martinez Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual item basis Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.94 3.32 5.54 4.43 2.77 3.69 2.21 5.78 Cost to Replace $3.69 2.83 4.55 3.81 2.46 3.32 1.97 6.40 Estimated Selling Price $5.54 4.31...
Sheridan 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 $3.42 $3.21 $4.82 $0.37 $1.34 1333 1,300 2.89 2.46 3.75 0.54 0.54 1426 1,200 4.82 3.96 5.35 0.43 1.07 1437 1,400 3.85 3.32 3.42 0.27 0.96 1510 1,100 2.41 2.14 3.48 0.86 0.64 1522 900 3.21 2.89 4.07 0.43 0.54 1573 3,400 1.93...
Splish 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
1,500
$3.90
$3.66
$5.49
$0.43
$1.53
1333
1,200
3.29
2.81
4.27
0.61
0.61
1426
1,100
5.49
4.51
6.10
0.49
1.22
1437
1,300
4.39
3.78
3.90
0.31
1.10
1510
1,000
2.75
2.44
3.97
0.98
0.73
1522
800
3.66
3.29
4.64
0.49
0.61
1573
3,300
2.20...
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...
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...
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 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...
Novak Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Estimated Selling Cost to Cost of Completion Normal Quantity Item No. Unit Replace Price and Disposal Profit $4.00 1,700 $3.75 $5.63 $0.44 $1.56 1320 0.63 1333 1,400 3.38 2.88 4.38 0.63 1,300 1426 5.63 4.63 6.25 0.50 1.25 1437 1,500 4.50 3.88 4.00 0.31 1.13 1510 1,200 2.81 2.50 4.06 1.00 0.75 1522 1,000 3.75 3.38 4.75 0.50 0.63 0.63 1573 3,500...
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