The amount of Inventory = $36,150
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 | 1,600 | $ 3.84 | $ 5.40 | $ 1.92 | $ 3.48 | $ 6,144.00 | $ 5,568.00 | $ 5,568.00 |
1333 | 1,300 | $ 3.24 | $ 4.08 | $ 1.20 | $ 2.88 | $ 4,212.00 | $ 3,744.00 | $ 3,744.00 |
1426 | 1,200 | $ 5.40 | $ 6.00 | $ 1.68 | $ 4.32 | $ 6,480.00 | $ 5,184.00 | $ 5,184.00 |
1437 | 1,400 | $ 4.32 | $ 3.84 | $ 1.62 | $ 2.22 | $ 6,048.00 | $ 3,108.00 | $ 3,108.00 |
1510 | 1,100 | $ 2.70 | $ 3.90 | $ 1.68 | $ 2.22 | $ 2,970.00 | $ 2,442.00 | $ 2,442.00 |
1522 | 900 | $ 3.60 | $ 4.68 | $ 0.96 | $ 3.72 | $ 3,240.00 | $ 3,348.00 | $ 3,240.00 |
1573 | 3,400 | $ 2.16 | $ 3.00 | $ 1.44 | $ 1.56 | $ 7,344.00 | $ 5,304.00 | $ 5,304.00 |
1626 | 1,400 | $ 5.64 | $ 7.20 | $ 1.80 | $ 5.40 | $ 7,896.00 | $ 7,560.00 | $ 7,560.00 |
$ 36,150.00 |
Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estim...
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 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....
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...
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....
Sunland 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 1,700 $3.62 $5.09 $1.81 1333 1,400 3.05 3.84 1.13 1426 1,300 5.09 5.65 1.58 1437 1,500 4.07 3.62 1.53 1510 1,200 2.54 3.67 1.58 1522 1,000 3.39 4.41 0.90 1573 3,500 2.03 2.83 1.36 1626 1,500 5.31 6.78 1.70 From the information above, determine the amount of Sunland Company inventory....
Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit 1320 1,400 $3.84 $3.60 $5.40 $0.42 $1.50 1333 1,100 3.24 2.76 4.20 0.60 0.60 1426 1,000 5.40 4.44 6.00 0.48 1.20 1437 1,200 4.32 3.72 3.84 0.30 1.08 1510 900 2.70 2.40 3.90 0.96 0.72 1522 700 3.60 3.24 4.56 0.48 0.60 1573 3,200 2.16 1.92 3.00 0.90 0.60 1626 1,200 5.64 6.24 7.20 0.60 1.20 Company A follows the practice...
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...
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...
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 LCNRV, on an individual-item basis. Item No. Quantity Cost per Unit Estimated Selling Price Cost to Complete and Sell 1320 1,300 $4.00 $5.63 $2.00 1333 1,000 3.38 4.25 1.25 1426 900 5.63 6.25 1.75 1437 1,100 4.50 4.00 1.69 1510 800 2.81 4.06 1.75 1522 600 3.75 4.88 1.00 1573 3,100 2.25 3.13 1.50 1626 1,100 5.88 7.50 1.88 From the information above, determine the amount of Novak Company inventory....