Nash 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 |
1.90 |
2.98 |
0.89 |
0.60 |
||||||||||||
1626 |
1,200 |
5.59 |
6.19 |
7.14 |
0.60 |
1.19 |
From the information above, determine the amount of Nash Company
inventory.
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Item | Quantity | cost per | cost | NRV | NRV- | MV | Quantity | final |
No | unit | to | normal | inventory | ||||
replace | value | value | ||||||
1320 | 1,400 | 3.81 | 3.57 | 4.94 | 3.45 | 3.57 | 1,400 | 4998 |
1333 | 1,100 | 3.21 | 2.74 | 3.57 | 2.97 | 2.97 | 1,100 | 3267 |
1426 | 1,000 | 5.36 | 4.4 | 5.47 | 4.28 | 4.4 | 1,000 | 4400 |
1437 | 1,200 | 4.28 | 3.69 | 3.51 | 2.44 | 3.51 | 1,200 | 4212 |
1510 | 900 | 2.68 | 2.38 | 2.92 | 2.21 | 2.38 | 900 | 2142 |
1522 | 700 | 3.57 | 3.21 | 4.04 | 3.44 | 3.44 | 700 | 2408 |
1573 | 3,200 | 2.14 | 1.9 | 2.09 | 1.49 | 1.9 | 3,200 | 6080 |
1626 | 1,200 | 5.59 | 6.19 | 6.54 | 5.35 | 5.59 | 1,200 | 6708 |
34215 | ||||||||
inventory | 34215 | |||||||
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