Question
9-07 Crane Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item...
9-07
Crane 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 |
1,300 | $3.23 | $3.03 | $4.55 | $0.35 | $1.26 | ||||||||||||
|
1333 |
1,000 | 2.73 | 2.32 | 3.54 | 0.51 | 0.51 | ||||||||||||
|
1426 |
900 | 4.55 | 3.74 | 5.05 | 0.40 | 1.01 | ||||||||||||
|
1437 |
1,100 | 3.64 | 3.13 | 3.23 | 0.25 | 0.91 | ||||||||||||
|
1510 |
800 | 2.27 | 2.02 | 3.28 | 0.81 | 0.61 | ||||||||||||
|
1522 |
600 | 3.03 | 2.73 | 3.84 | 0.40 | 0.51 | ||||||||||||
|
1573 |
3,100 | 1.82 | 1.62 | 2.53 | 0.76 | 0.51 | ||||||||||||
|
1626 |
1,100 | 4.75 | 5.25 | 6.06 | 0.51 | 1.01 | ||||||||||||
From the information above, determine the amount of Crane Company
inventory.
| The amount of Crane Company’s inventory | $enter the dollar amount of Crane Company's inventory |
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