Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....

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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	1,800	$3.58	$3.36	$5.04	$0.39	$1.40
1333	1,500	3.02	2.58	3.92	0.56	0.56
1426	1,400	5.04	4.14	5.60	0.45	1.12
1437	1,600	4.03	3.47	3.58	0.28	1.01
1510	1,300	2.52	2.24	3.64	0.90	0.67
1522	1,100	3.36	3.02	4.26	0.45	0.56
1573	3,600	2.02	1.79	2.80	0.84	0.56
1626	1,600	5.26	5.82	6.72	0.56	1.12

From the information above, determine the amount of Coronado Company inventory.

The amount of Coronado Company’s inventory

$

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Answer 1

Answer #1

Item No.	Quantity	Cost per Unit	Cost to Replace	Estimated Selling Price	Cost of Completion and Disposal	Normal Profit	NRV	NRV less normal profit	Market	Lower of cost or market	Inventory value
1320	1,800	$3.58	$3.36	$5.04	$0.39	$1.40	$4.65	$3.25	$3.36	$3.36	$6,048
1333	1,500	3.02	2.58	3.92	0.56	0.56	$3.36	$2.80	$2.80	$2.80	$4,200
1426	1400	5.04	4.14	5.60	0.45	1.12	$5.15	$4.03	$4.14	$4.14	$5,796
1437	1,600	4.03	3.47	3.58	0.28	1.01	$3.30	$2.29	$3.30	$3.30	$5,280
1510	1300	2.52	2.24	3.64	0.90	0.67	$2.74	$2.07	$2.24	$2.24	$2,912
1522	1100	3.36	3.02	4.26	0.45	0.56	$3.81	$3.25	$3.25	$3.25	$3,575
1573	3,600	2.02	1.79	2.80	0.84	0.56	$1.96	$1.40	$1.79	$1.79	$6,444
1626	1,600	5.26	5.82	6.72	0.56	1.12	$6.16	$5.04	$5.82	$5.26	$8,416
										Total	$42,671
The amount of Coronado Company’s inventory $42671

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