Homework Answers
| Item | Quantity | cost per | cost | NRV | NRV- | MV | Quantity | final | |
| No | unit | to | normal | inventory | |||||
| replace | value | value | |||||||
| 1320 | 1,300 | 3.74 | 3.51 | 4.86 | 3.4 | 3.51 | 1,300 | 4563 | |
| 1333 | 1,000 | 3.16 | 2.69 | 3.51 | 2.92 | 2.92 | 1,000 | 2920 | |
| 1426 | 900 | 5.27 | 4.33 | 5.38 | 4.21 | 4.33 | 900 | 3897 | |
| 1437 | 1,100 | 4.21 | 3.63 | 3.45 | 2.4 | 3.45 | 1,100 | 3795 | |
| 1510 | 800 | 2.63 | 2.34 | 2.86 | 2.16 | 2.34 | 800 | 1872 | |
| 1522 | 600 | 3.51 | 3.16 | 3.98 | 3.39 | 3.39 | 600 | 2034 | |
| 1573 | 3,100 | 2.11 | 1.87 | 2.05 | 1.46 | 1.87 | 3,100 | 5797 | |
| 1626 | 1,100 | 5.5 | 6.08 | 6.43 | 5.26 | 5.5 | 1,100 | 6050 | |
| 30928 | |||||||||
| inventory | 30928 | ||||||||
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Sheffield Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Sheffield Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Sheffield Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Quantity 1,300 1320 $3.74 $3.51 $5.27 $0.41 $1.46 1333 1,000 3.16 2.69 4.10 0.59 0.59 1426 900 5.27 4.33 5.85 0.47 1.17 1437 1,100 4.21 3.63 3.74 0.29 1.05 1510 800 2.63 2.34 3.80 0.94 0.70 1522 600 3.51 3.16 4.45 0.47 0.59 1573 3,100 2.11...
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 1,300 $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...
Kingbird Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Kingbird Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Cost to Replace Normal Profit 1320 1,500 $3.87 $3.63 $5.45 $0.42 $1.51 1333 1,200 3.27 2.78 4.24 0.61 0.61 1426 1,100 5.45 4.48 6.05 0.48 1.21 1437 1,300 4.36 3.75 3.87 0.30 1.09 1510 1,000 2.72 2.42 3.93 0.97 0.73 1522 800 3.63 3.27 4.60 0.48 0.61 1573 3,300 2.18...
Windsor Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost...
Windsor Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 2,000 $3.46 $4.86 $1.73 1333 1,700 2.92 3.67 1.08 1426 1,600 4.86 5.40 1.51 1437 1,800 3.89 3.46 1.46 1510 1,500 2.43 3.51 1.51 1522 1,300 3.24 4.21 0.86 1573 3,800 1.94 2.70 1.30 1626 1,800 5.08 6.48 1.62 From the information above, determine the amount of Windsor Company inventory....
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Windsor 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
1,600
$3.46
$3.24
$4.86
$0.38
$1.35
1333
1,300
2.92
2.48
3.78
0.54
0.54
1426
1,200
4.86
4.00
5.40
0.43
1.08
1437
1,400
3.89
3.35
3.46
0.27
0.97
1510
1,100
2.43
2.16
3.51
0.86
0.65
1522
900
3.24
2.92
4.10
0.43
0.54
1573
3,400
1.94...
Marigold Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost...
Marigold Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 1,600 $3.33 $4.68 $1.66 1333 1,300 2.81 3.54 1.04 1426 1,200 4.68 5.20 1.46 1437 1,400 3.74 3.33 1.40 1510 1,100 2.34 3.38 1.46 1522 900 3.12 4.06 0.83 1573 3,400 1.87 2.60 1.25 1626 1,400 4.89 6.24 1.56 From the information above, determine the amount of Marigold Company inventory....
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Cost to Replace Normal Profit 1320 1,600 $3.46 $3.24 $4.86 $0.38 $1.35 1333 1,300 2.92 2.48 3.78 0.54 0.54 1426 1,200 4.86 4.00 5.40 0.43 1.08 1437 1,400 3.89 3.35 3.46 0.27 0.97 1510 1,100 2.43 2.16 3.51 0.86 0.65 1522 900 3.24 2.92 4.10 0.43 0.54 1573 3,400 1.94...
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Cost of Completion and Disposal Cost to Replace Item No. Quantity Cost per Unit Price Normal Profit $3.46 $3.24 $4.86 $0.38 $1.35 1,600 1320 1333 1,300 2.92 2.48 3.78 0.54 0.54 1426 1,200 4.86 4.00 5.40 0.43 1.08 1437 1,400 3,89 3.35 3.46 0.27 0.97 1510 1,100 2.43 2.16 3.51 0.86 0.65 900 3,24 2.92 0.43 0.54 1522 4.10 1573 3,400 1.94...
Teal Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Teal Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Estimated Selling Price Cost of Completion and Disposal Normal Profit Cost to Replace $3.06 2.35 $1.28 0.51 3.77 Item No. Quantity 1320 1,300 1333 1,000 1426 900 1437 1,100 1510 800 1522 600 15733,100 1626 1,100 $3.26 2.75 4.59 3.67 2.30 3.06 1.84 4.79 $4.59 3.57 5.10 3.26 3.32 $0.36 0.51 0.41 0.26 0.82 2.04 0.61 3.88 0.41 2.75 1.63 5.30...
Vaughn Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Vaughn Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Cost to Replace Normal Profit 1320 2,000 $3.68 $3.45 $5.18 $0.40 $1.44 1333 1,700 3.11 2.65 4.03 0.58 0.58 1426 1,600 5.18 4.26 5.75 0.46 1.15 1437 1,800 4.14 3.68 0.29 1.04 3.57 2.30 1510 1,500 2.59 3.74 0.92 0.69 1522 1,300 3.11 4.37 0.46 0.58 1573 3,800 3.45 2.07...
Sheffield Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Quantity 1,300 1320 $3.74 $3.51 $5.27 $0.41 $1.46 1333 1,000 3.16 2.69 4.10 0.59 0.59 1426 900 5.27 4.33 5.85 0.47 1.17 1437 1,100 4.21 3.63 3.74 0.29 1.05 1510 800 2.63 2.34 3.80 0.94 0.70 1522 600 3.51 3.16 4.45 0.47 0.59 1573 3,100 2.11...
Kingbird Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Cost to Replace Normal Profit 1320 1,500 $3.87 $3.63 $5.45 $0.42 $1.51 1333 1,200 3.27 2.78 4.24 0.61 0.61 1426 1,100 5.45 4.48 6.05 0.48 1.21 1437 1,300 4.36 3.75 3.87 0.30 1.09 1510 1,000 2.72 2.42 3.93 0.97 0.73 1522 800 3.63 3.27 4.60 0.48 0.61 1573 3,300 2.18...
Windsor Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 2,000 $3.46 $4.86 $1.73 1333 1,700 2.92 3.67 1.08 1426 1,600 4.86 5.40 1.51 1437 1,800 3.89 3.46 1.46 1510 1,500 2.43 3.51 1.51 1522 1,300 3.24 4.21 0.86 1573 3,800 1.94 2.70 1.30 1626 1,800 5.08 6.48 1.62 From the information above, determine the amount of Windsor Company inventory....
Windsor 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
1,600
$3.46
$3.24
$4.86
$0.38
$1.35
1333
1,300
2.92
2.48
3.78
0.54
0.54
1426
1,200
4.86
4.00
5.40
0.43
1.08
1437
1,400
3.89
3.35
3.46
0.27
0.97
1510
1,100
2.43
2.16
3.51
0.86
0.65
1522
900
3.24
2.92
4.10
0.43
0.54
1573
3,400
1.94...
Marigold Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per Unit Estimated Selling Price Cost to Complete and Sell Item No. Quantity 1320 1,600 $3.33 $4.68 $1.66 1333 1,300 2.81 3.54 1.04 1426 1,200 4.68 5.20 1.46 1437 1,400 3.74 3.33 1.40 1510 1,100 2.34 3.38 1.46 1522 900 3.12 4.06 0.83 1573 3,400 1.87 2.60 1.25 1626 1,400 4.89 6.24 1.56 From the information above, determine the amount of Marigold Company inventory....
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Cost to Replace Normal Profit 1320 1,600 $3.46 $3.24 $4.86 $0.38 $1.35 1333 1,300 2.92 2.48 3.78 0.54 0.54 1426 1,200 4.86 4.00 5.40 0.43 1.08 1437 1,400 3.89 3.35 3.46 0.27 0.97 1510 1,100 2.43 2.16 3.51 0.86 0.65 1522 900 3.24 2.92 4.10 0.43 0.54 1573 3,400 1.94...
Windsor Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Cost of Completion and Disposal Cost to Replace Item No. Quantity Cost per Unit Price Normal Profit $3.46 $3.24 $4.86 $0.38 $1.35 1,600 1320 1333 1,300 2.92 2.48 3.78 0.54 0.54 1426 1,200 4.86 4.00 5.40 0.43 1.08 1437 1,400 3,89 3.35 3.46 0.27 0.97 1510 1,100 2.43 2.16 3.51 0.86 0.65 900 3,24 2.92 0.43 0.54 1522 4.10 1573 3,400 1.94...
Teal Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Estimated Selling Price Cost of Completion and Disposal Normal Profit Cost to Replace $3.06 2.35 $1.28 0.51 3.77 Item No. Quantity 1320 1,300 1333 1,000 1426 900 1437 1,100 1510 800 1522 600 15733,100 1626 1,100 $3.26 2.75 4.59 3.67 2.30 3.06 1.84 4.79 $4.59 3.57 5.10 3.26 3.32 $0.36 0.51 0.41 0.26 0.82 2.04 0.61 3.88 0.41 2.75 1.63 5.30...
Vaughn Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Cost to Replace Normal Profit 1320 2,000 $3.68 $3.45 $5.18 $0.40 $1.44 1333 1,700 3.11 2.65 4.03 0.58 0.58 1426 1,600 5.18 4.26 5.75 0.46 1.15 1437 1,800 4.14 3.68 0.29 1.04 3.57 2.30 1510 1,500 2.59 3.74 0.92 0.69 1522 1,300 3.11 4.37 0.46 0.58 1573 3,800 3.45 2.07...
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