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Exercise 9-7 Carla Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...

Exercise 9-7 Carla 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 $3.36 $3.15 $4.73 $0.37 $1.31 1333 1,200 2.84 2.42 3.68 0.53 0.53 1426 1,100 4.73 3.89 5.25 0.42 1.05 1437 1,300 3.78 3.26 3.36 0.26 0.95 1510 1,000 2.36 2.10 3.41 0.84 0.63 1522 800 3.15 2.84 3.99 0.42 0.53 1573 3,300 1.89 1.68 2.63 0.79 0.53 1626 1,300 4.94 5.46 6.30 0.53 1.05 From the information above, determine the amount of Carla Company inventory. The amount of Carla Company’s inventory $

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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 1,500 $3.36 $3.15 $4.73 $0.37 $1.31 $4.36 $3.05 $3.15 $3.15 $4,725
1333 1,200 2.84 2.42 3.68 0.53 0.53 $3.15 $2.62 $2.62 $2.62 $3,144
1426 1100 4.73 3.89 5.25 0.42 1.05 $4.83 $3.78 $3.89 $3.89 $4,279
1437 1,300 3.78 3.26 3.36 0.26 0.95 $3.10 $2.15 $3.10 $3.10 $4,030
1510 1000 2.36 2.1 3.41 0.84 0.63 $2.57 $1.94 $2.10 $2.10 $2,100
1522 800 3.15 2.84 3.99 0.42 0.53 $3.57 $3.04 $3.04 $3.04 $2,432
1573 3,300 1.89 1.68 2.63 0.79 0.53 $1.84 $1.31 $1.68 $1.68 $5,544
1626 1,300 4.94 5.46 6.3 0.53 1.05 $5.77 $4.72 $5.46 $4.94 $6,422
Total $32,676
The amount of Carla Company’s inventory $32676
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