Homework Answers
| item | quantity | cost per unit | estimated selling price | cost to complete and sell | net realisable value | lower of cost or net realisable value | quantity* lower amount |
| 1320 | 1700 | 3.62 | 5.09 | 1.81 | 5.09-1.81=>3.28 | 3.28 | (3.28*1700)=>5,576 |
| 1333 | 1400 | 3.05 | 3.84 | 1.13 | 3.84-1.13=>2.71 | 2.71 | (2.71*1400)=>3,794 |
| 1426 | 1300 | 5.09 | 5.65 | 1.58 | 5.65-1.58=>4.07 | 4.07 | (4.07*1300)=>5,291 |
| 1437 | 1500 | 4.07 | 3.62 | 1.53 | 3.62-1.53=>2.09 | 2.09 | (2.09*1500)=>3,135 |
| 1510 | 1200 | 2.54 | 3.67 | 1.58 | 3.67-1.58=>2.09 | 2.09 | (2.09*1200)=>2,508 |
| 1522 | 1000 | 3.39 | 4.41 | 0.90 | 4.41-0.90=>3.51 | 3.39 | (3.39*1000)=>3.390 |
| 1573 | 3500 | 2.03 | 2.83 | 1.36 | 2.83-1.36=>1.47 | 1.47 | (1.47*3500)=>5,145 |
| 1626 | 1500 | 5.31 | 6.78 | 1.70 | 6.78-1.7=>5.08 | 5.08 | (5.08*1500)=>7,620 |
| amount of inventory` | 36,459 |
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Sunland Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Esti...
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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 per Unit Estimated Selling Price Cost to Complete and Sell 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...
Marigold Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost...
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Novak Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item...
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Exercise 9-3 Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item...
Exercise 9-3 Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost Cost to Complete and Sell Estimated Item No. Quantity per Unit Selling Price 1320 1,900 $3.42 $4.82 $1.71 1333 1,600 2.89 3.64 1.07 1426 1,500 4.82 5.35 1.50 1437 1,700 3.85 3.42 1.44 1510 1,400 2.41 3.48 1.50 1522 1,200 3.21 4.17 0.86 1573 3,700 1.93 2.68 1.28 1626 1,700 5.03 6.42 1.61 From the information above, determine the amount of Oriole...
Exercise 9-3 Monty Company follows the practice of pricing its inventory at LCNRV, on an individual-item...
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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....
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....
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....
Exercise 9-3 Sweet Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price $3.81 $5.36 4.05 3.21 5.36 5.95 Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,500 1,200 1,100 1,300 1,000 800 3,300 1,300 3.81 3.87 Cost to Complete and Sell $1.90 1.19 1.67 1.61 1.67 0.95 1.43 1.79 4.64 3.57 2.14 5.59 2.98 7.14 From the information above, determine the amount of Sweet Company inventory....
Exercise 9-3 Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost Cost to Complete and Sell Estimated Item No. Quantity per Unit Selling Price 1320 1,900 $3.42 $4.82 $1.71 1333 1,600 2.89 3.64 1.07 1426 1,500 4.82 5.35 1.50 1437 1,700 3.85 3.42 1.44 1510 1,400 2.41 3.48 1.50 1522 1,200 3.21 4.17 0.86 1573 3,700 1.93 2.68 1.28 1626 1,700 5.03 6.42 1.61 From the information above, determine the amount of Oriole...
Exercise 9-3 Monty Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost to Complete and Sell Quantity 1,500 1,200 $1.65 1,100 Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Cost per Unit $3.30 2.78 4.64 3.71 2.32 3.09 1.85 4.84 Estimated Selling Price $4.64 3.50 5.15 3.30 3.35 4.02 2.58 6.18 1,300 1,000 800 3,300 1,300 1.03 1.44 1.39 1.44 0.82 1.24 1.55 From the information above, determine the amount of Monty...
Skysong Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Item No. Quantity 1320 1,500 $3.39 $3.18 $4.77 $0.37 $1.33 1333 2.86 2.44 3.71 0.53 0.53 1,200 1,100 1426 4.77 3.92 5.30 0.42 1.06 1437 1,300 3.82 3.29 3.39 0.27 0.95 1510 2.39 2.12 3.45 0.85 0.64 1,000 800 1522 3.18 2.86 4.03 0.42 0.53 1573 3,300 1.91...
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