Homework Answers
| Item no. |
Net realizable value (NRV) [ Estimated selling price - Cost of completion and disposal ] (A) |
NRV less Normal profit [ NRV - Normal profit ] (B) |
Cost to replace (C) |
Market price [ Middle value of A,B&C ] (D) |
Cost per unit (E) |
Lower of Cost or market [ Lower of D or E ] (F) |
Quantity (G) |
Total amount [ F * G ] |
| 1320 | $4.73 | $3.3 | $3.42 | $3.42 | $3.65 | $3.42 | 1,900 | $6,498 |
| 1333 | $3.42 | $2.85 | $2.62 | $2.85 | $3.08 | $2.85 | 1,600 | $4,560 |
| 1426 | $5.24 | $4.1 | $4.22 | $4.22 | $5.13 | $4.22 | 1,500 | $6,330 |
| 1437 | $3.36 | $2.33 | $3.53 | $3.36 | $4.1 | $3.36 | 1,700 | $5,712 |
| 1510 | $2.8 | $2.12 | $2.28 | $2.28 | $2.57 | $2.28 | 1,400 | $3,192 |
| 1522 | $3.87 | $3.3 | $3.08 | $3.3 | $3.42 | $3.3 | 1,200 | $3,960 |
| 1573 | $1.99 | $1.42 | $1.82 | $1.82 | $2.05 | $1.82 | 3,700 | $6,734 |
| 1626 | $6.27 | $5.13 | $5.93 | $5.93 | $5.36 | $5.36 | 1,700 | $9,112 |
| Total | $46,098 |
The amount of Coronado company's inventory = $46,098
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Exercise 9-7 Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...
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xercise 9-7 Concord Company follows the practice of priding its inventory at the lower-of-cost-or-market, on an...
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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...
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