Question
Blue Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Blue 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 |
1,500 | $3.90 | $3.66 | $5.49 | $0.43 | $1.53 | ||||||||||||
|
1333 |
1,200 | 3.29 | 2.81 | 4.27 | 0.61 | 0.61 | ||||||||||||
|
1426 |
1,100 | 5.49 | 4.51 | 6.10 | 0.49 | 1.22 | ||||||||||||
|
1437 |
1,300 | 4.39 | 3.78 | 3.90 | 0.31 | 1.10 | ||||||||||||
|
1510 |
1,000 | 2.75 | 2.44 | 3.97 | 0.98 | 0.73 | ||||||||||||
|
1522 |
800 | 3.66 | 3.29 | 4.64 | 0.49 | 0.61 | ||||||||||||
|
1573 |
3,300 | 2.20 | 1.95 | 3.05 | 0.92 | 0.61 | ||||||||||||
|
1626 |
1,300 | 5.73 | 6.34 | 7.32 | 0.61 | 1.22 | ||||||||||||
From the information above, determine the amount of Blue Company
inventory.
| What is the amount of Blue Company’s inventory? |
Homework Answers
Answer #1
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Metlock Company follows the practice of pricing its inventory at
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Quantity
Cost per Unit
Cost to Replace
Estimated Selling Price
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Normal Profit
1320
1,500
$3.90
$3.66
$5.49
$0.43
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1333
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3.29
2.81
4.27
0.61
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5.49
4.51
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1437
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4.39
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Cost to Replace
Estimated Selling Price
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1320
1,500
$3.87
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1333
1,200
3.27
2.78
4.24
0.61
0.61
1426
1,100
5.45
4.48
6.05
0.48
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1,300
4.36
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2.72
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4.77
3.92
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3.82
3.29
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0.95
1510
1,000
2.39
2.12
3.45
0.85
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1522
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Item No.
Quantity
Cost per Unit
Cost to Replace
Estimated Selling Price
Cost of Completion and Disposal
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1320
1,300
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4.25
3.66
3.78
0.30
1.06
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Cost of Completion and Disposal
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Instructions
From the information above, determine the amount of Sedato
Company...
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