Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....

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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	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 Coronado Company inventory.

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Answer 1

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	1,300	$3.23	$3.03	$4.55	$0.35	$1.26	$4.20	$2.94	$3.03	$3.03	$3,939
1333	1,000	2.73	2.32	3.54	0.51	0.51	$3.03	$2.52	$2.52	$2.52	$2,520
1426	900	4.55	3.74	5.05	0.4	1.01	$4.65	$3.64	$3.74	$3.74	$3,366
1437	1,100	3.64	3.13	3.23	0.25	0.91	$2.98	$2.07	$2.98	$2.98	$3,278
1510	800	2.27	2.02	3.28	0.81	0.61	$2.47	$1.86	$2.02	$2.02	$1,616
1522	600	3.03	2.73	3.84	0.4	0.51	$3.44	$2.93	$2.93	$2.93	$1,758
1573	3,100	1.82	1.62	2.53	0.76	0.51	$1.77	$1.26	$1.62	$1.62	$5,022
1626	1,100	4.75	5.25	6.06	0.51	1.01	$5.55	$4.54	$5.25	$4.75	$5,225
										Total	$26,724
The amount of Coronado Company inventory = $26724

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