Homework Answers
Solution
| The amount of Wildhorse company Inventory = $44,965 | $ 30,496.00 |
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 | 1,400 | $ 3.78 | $ 5.31 | $ 1.89 | $ 3.42 | $ 5,292.00 | $ 4,788.00 | $ 4,788.00 |
| 1333 | 1,100 | $ 3.19 | $ 4.01 | $ 1.18 | $ 2.83 | $ 3,509.00 | $ 3,113.00 | $ 3,113.00 |
| 1426 | 1,000 | $ 5.31 | $ 5.90 | $ 1.65 | $ 4.25 | $ 5,310.00 | $ 4,250.00 | $ 4,250.00 |
| 1437 | 1,200 | $ 4.25 | $ 3.78 | $ 1.59 | $ 2.19 | $ 5,100.00 | $ 2,628.00 | $ 2,628.00 |
| 1510 | 900 | $ 2.66 | $ 3.84 | $ 1.65 | $ 2.19 | $ 2,394.00 | $ 1,971.00 | $ 1,971.00 |
| 1522 | 700 | $ 3.54 | $ 4.60 | $ 0.94 | $ 3.66 | $ 2,478.00 | $ 2,562.00 | $ 2,478.00 |
| 1573 | 3,200 | $ 2.12 | $ 2.95 | $ 1.42 | $ 1.53 | $ 6,784.00 | $ 4,896.00 | $ 4,896.00 |
| 1626 | 1,200 | $ 5.55 | $ 7.08 | $ 1.77 | $ 5.31 | $ 6,660.00 | $ 6,372.00 | $ 6,372.00 |
| $ 30,496.00 |
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