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E9-7 (L02) (Lower-of-Cost-or-Market) Referring to the inventory data for Sedato Company in E9-3, ...
Exercise 9-7 Nash Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...
Exercise 9-7 Nash Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-Item basis. Item No. Cost per Unit $4.00 1320 1333 3.38 Quantity 1,700 1,400 1,300 1,500 1,200 1,000 3,500 1,500 1426 1437 1510 1522 1573 1626 Estimated Selling Price $5.63 4.38 6.25 4.00 4.06 4.75 3.13 Cost to Replace $3.75 2.88 4.63 3.88 2.50 3.38 2.00 6.50 4.50 Cost of Completion and Disposal $0.44 0.63 0.50 0.31 1.00 0.50 0.94 0.63 Normal Profit $1.56...
Exercise 9-07 Novak Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...
Exercise 9-07 Novak 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 1,700 1,400 1,300 1,500 1,200 1,000 3,500 1,500 Cost per Unit $4.00 3.38 5.63 4.50 2.81 3.75 2.25 5.88 Cost to Replace $3.75 2.88 4.63 3.88 2.50 3.38 2.00 6.50 Estimated Selling Price $5.63 4.38 6.25 4.00 4.06 4.75 3.13 7.50 Cost of Completion and Disposal $0.44 0.63 0.50 0.31 1.00...
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...
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
Exercise 9-7 Flounder Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...
Exercise 9-7 Flounder Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Quantity 1,300 1320 $3.23 $3.03 $4.55 $0.35 $1.26 1333 1,000 2.73 2.32 3.54 0.51 0.51 1426 900 4.55 3.74 5.05 0.40 1.01 1437 1,100 3.64 3.13 3.23 0.25 0.81 1510 800 2.27 3.28 2.02 2.73 1522 600 3.03 3.84 0.40 0.91 0.61 0.51 0.51...
Exercise 9-7 Crane Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...
Exercise 9-7
Crane 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...
Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Coronado 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 1,300 $3.23 $3.03 $4.55 $0.35 $1.26 1333 1,000 2.73 2.32 3.54 0.51 0.51 1426 900 4.55 3.74 5.05 0.40 1.01 1437 1,100 3.64 3.13 3.23 0.25 0.91 1510 800 2.27 2.02 3.28 0.81 0.61 1522 600 3.03 2.73 3.84 0.40 0.51 1573 3,100 1.82...
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...
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...
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 Nash Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-Item basis. Item No. Cost per Unit $4.00 1320 1333 3.38 Quantity 1,700 1,400 1,300 1,500 1,200 1,000 3,500 1,500 1426 1437 1510 1522 1573 1626 Estimated Selling Price $5.63 4.38 6.25 4.00 4.06 4.75 3.13 Cost to Replace $3.75 2.88 4.63 3.88 2.50 3.38 2.00 6.50 4.50 Cost of Completion and Disposal $0.44 0.63 0.50 0.31 1.00 0.50 0.94 0.63 Normal Profit $1.56...
Exercise 9-07 Novak 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 1,700 1,400 1,300 1,500 1,200 1,000 3,500 1,500 Cost per Unit $4.00 3.38 5.63 4.50 2.81 3.75 2.25 5.88 Cost to Replace $3.75 2.88 4.63 3.88 2.50 3.38 2.00 6.50 Estimated Selling Price $5.63 4.38 6.25 4.00 4.06 4.75 3.13 7.50 Cost of Completion and Disposal $0.44 0.63 0.50 0.31 1.00...
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...
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
Exercise 9-7 Flounder Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Quantity 1,300 1320 $3.23 $3.03 $4.55 $0.35 $1.26 1333 1,000 2.73 2.32 3.54 0.51 0.51 1426 900 4.55 3.74 5.05 0.40 1.01 1437 1,100 3.64 3.13 3.23 0.25 0.81 1510 800 2.27 3.28 2.02 2.73 1522 600 3.03 3.84 0.40 0.91 0.61 0.51 0.51...
Exercise 9-7
Crane 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...
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...
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...
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...
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