Homework Answers
| Col I | Col II | Col III | Col IV | Col V | Col VI | Col VII | Col VIII | Col IX |
| Item No. | Inventory quantity | Estimated Selling price | Cost to complete and sell | NRV(Col III - Col IV) | Cost per unit | Total Cost(Col II*Col VI) | Total NRV(Col II*Col V) | Lower of cost and NRV |
| 1320 | 1500 | $5.36 | $1.90 | $3.46 | $3.81 | 5,715.00 | $5,190 | $5,190 |
| 1333 | 1200 | $4.05 | $1.19 | $2.86 | $3.21 | 3,852.00 | $3,432 | $3,432 |
| 1426 | 1100 | $5.95 | $1.67 | $4.28 | $5.36 | 5,896.00 | $4,708 | $4,708 |
| 1437 | 1300 | $3.81 | $1.61 | $2.20 | $4.28 | 5,564.00 | $2,860 | $2,860 |
| 1510 | 1000 | $3.87 | $1.67 | $2.20 | $2.68 | 2,680.00 | $2,200 | $2,200 |
| 1522 | 800 | $4.64 | $0.95 | $3.69 | $3.57 | 2,856.00 | $2,952 | $2,856 |
| 1573 | 3300 | $2.98 | $1.43 | $1.55 | $2.14 | 7,062.00 | $5,115 | $5,115 |
| 1626 | 1300 | $7.14 | $1.79 | $5.35 | $5.59 | 7,267.00 | $6,955 | $6,955 |
| Total | $33,316 | |||||||
| So sweet's company inventory is $33,316 | ||||||||
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Exercise 9-3 Sweet Company follows the practice of pricing its inventory at LCNRV, on an individual-item...
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...
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...
Exercise 9-3 Monty Company follows the practice of pricing its inventory at LCNRV, on an individual-item...
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...
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...
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...
Novak Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item...
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....
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 LCNRV, on an individual-item basis. Cost...
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....
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 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....
Sunland Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Esti...
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....
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...
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...
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....
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....
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....
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....
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