Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item bas...
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 |
1,800 | $3.58 | $3.36 | $5.04 | $0.39 | $1.40 | ||||||||||||
|
1333 |
1,500 | 3.02 | 2.58 | 3.92 | 0.56 | 0.56 | ||||||||||||
|
1426 |
1,400 | 5.04 | 4.14 | 5.60 | 0.45 | 1.12 | ||||||||||||
|
1437 |
1,600 | 4.03 | 3.47 | 3.58 | 0.28 | 1.01 | ||||||||||||
|
1510 |
1,300 | 2.52 | 2.24 | 3.64 | 0.90 | 0.67 | ||||||||||||
|
1522 |
1,100 | 3.36 | 3.02 | 4.26 | 0.45 | 0.56 | ||||||||||||
|
1573 |
3,600 | 2.02 | 1.79 | 2.80 | 0.84 | 0.56 | ||||||||||||
|
1626 |
1,600 | 5.26 | 5.82 | 6.72 | 0.56 | 1.12 | ||||||||||||
From the information above, determine the amount of Coronado
Company inventory.
| The amount of Coronado Company’s inventory |
Homework Answers
| Item no. | Estimated selling price | Cost of completion and disposal | Normal profit | Net realizable value (NRV) [ Estimated selling price - Cost of completion and disposal ] (a) | NRV less normal profit (b) | Cost to replace (c) | Market value [ Middle of a, b & c ] (d) | Cost per unit (e) | Lower of Cost or market [ Lower of d & e ] (f) | Quantity (g) | Total inventory value [ f * g ] |
| 1320 | $ 5.04 | $ 0.39 | $ 1.40 | $ 4.65 | $ 3.25 | $ 3.36 | $ 3.36 | $ 3.58 | $ 3.36 | 1,800 | $ 6,048 |
| 1333 | $ 3.92 | $ 0.56 | $ 0.56 | $ 3.36 | $ 2.80 | $ 2.58 | $ 2.80 | $ 3.02 | $ 2.80 | 1,500 | $ 4,200 |
| 1426 | $ 5.60 | $ 0.45 | $ 1.12 | $ 5.15 | $ 4.03 | $ 4.14 | $ 4.14 | $ 5.04 | $ 4.14 | 1,400 | $ 5,796 |
| 1437 | $ 3.58 | $ 0.28 | $ 1.01 | $ 3.30 | $ 2.29 | $ 3.47 | $ 3.30 | $ 4.03 | $ 3.30 | 1,600 | $ 5,280 |
| 1510 | $ 3.64 | $ 0.90 | $ 0.67 | $ 2.74 | $ 2.07 | $ 2.24 | $ 2.24 | $ 2.52 | $ 2.24 | 1,300 | $ 2,912 |
| 1522 | $ 4.26 | $ 0.45 | $ 0.56 | $ 3.81 | $ 3.25 | $ 3.02 | $ 3.25 | $ 3.36 | $ 3.25 | 1,100 | $ 3,575 |
| 1573 | $ 2.80 | $ 0.84 | $ 0.56 | $ 1.96 | $ 1.40 | $ 1.79 | $ 1.79 | $ 2.02 | $ 1.79 | 3,600 | $ 6,444 |
| 1626 | $ 6.72 | $ 0.56 | $ 1.12 | $ 6.16 | $ 5.04 | $ 5.82 | $ 5.82 | $ 5.26 | $ 5.26 | 1,600 | $ 8,416 |
| The amount of Coronado Company's Inventory | $ 42,671 | ||||||||||
Add Answer to:
Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item bas...
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 1,800 $3.58 $3.36 $5.04 $0.39 $1.40 1333 1,500 3.02 2.58 3.92 0.56 0.56 1426 1,400 5.04 4.14 5.60 0.45 1.12 1437 1,600 4.03 3.47 3.58 0.28 1.01 1510 1,300 2.52 2.24 3.64 0.90 0.67 1522 1,100 3.36 3.02 4.26 0.45 0.56 1573 3,600 2.02...
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...
Concord Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item bas...
Concord 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 $3.36 $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 3.26 3.36 0.26 0.95 3.78 2.36 1,000 2.10 3.41 0.84 0.63 1510 1522 1573 800 3.15 2.84 3.99 0.42 0.53 3,300 1.89...
Skysong Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Skysong Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Item No. Quantity 1320 1,500 $3.39 $3.18 $4.77 $0.37 $1.33 1333 2.86 2.44 3.71 0.53 0.53 1,200 1,100 1426 4.77 3.92 5.30 0.42 1.06 1437 1,300 3.82 3.29 3.39 0.27 0.95 1510 2.39 2.12 3.45 0.85 0.64 1,000 800 1522 3.18 2.86 4.03 0.42 0.53 1573 3,300 1.91...
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...
Wildhorse Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Wildhorse 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...
Metlock Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Metlock Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost to Replace Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Normal Profit 1320 1,700 $3.52 $3.30 $4.95 $0.39 $1.38 1333 1,400 2.97 2.53 3.85 0.55 0.55 1426 1,300 4.95 4.07 5.50 0.44 1.10 1437 1,500 3.96 3.41 3.52 0.28 0.99 1510 1,200 2.48 2.20 3.58 0.88 0.66 1522 1,000 3.30 2.97 4.18 0.44 0.55 1573 3,500 1.98...
Exercise 9-7 Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an...
Exercise 9-7 Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis Estimated Cost per Cost of Completion and Disposal Selling Item No. Quantity Unit Replace 13201,900 $3.65 1333 1,600 1426 1,500 1437 1,700 15101,400 1522 1,200 1573 3,700 1626 1,700 Normal Profit $1.43 0.57 1.14 1.03 0.68 0.57 0.57 1.14 Cost to Price $3.42 2.62 4.22 3.53 2.28 3.08 1.82 5.93 $5.13 3.99 5.70 3.65 3.71 4.33 2.85 6.84 $0.40 0.57 0.46 0.29...
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...
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...
Concord 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 $3.36 $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 3.26 3.36 0.26 0.95 3.78 2.36 1,000 2.10 3.41 0.84 0.63 1510 1522 1573 800 3.15 2.84 3.99 0.42 0.53 3,300 1.89...
Skysong Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Item No. Quantity 1320 1,500 $3.39 $3.18 $4.77 $0.37 $1.33 1333 2.86 2.44 3.71 0.53 0.53 1,200 1,100 1426 4.77 3.92 5.30 0.42 1.06 1437 1,300 3.82 3.29 3.39 0.27 0.95 1510 2.39 2.12 3.45 0.85 0.64 1,000 800 1522 3.18 2.86 4.03 0.42 0.53 1573 3,300 1.91...
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...
Metlock Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Cost to Replace Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Cost per Unit Normal Profit 1320 1,700 $3.52 $3.30 $4.95 $0.39 $1.38 1333 1,400 2.97 2.53 3.85 0.55 0.55 1426 1,300 4.95 4.07 5.50 0.44 1.10 1437 1,500 3.96 3.41 3.52 0.28 0.99 1510 1,200 2.48 2.20 3.58 0.88 0.66 1522 1,000 3.30 2.97 4.18 0.44 0.55 1573 3,500 1.98...
Exercise 9-7 Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis Estimated Cost per Cost of Completion and Disposal Selling Item No. Quantity Unit Replace 13201,900 $3.65 1333 1,600 1426 1,500 1437 1,700 15101,400 1522 1,200 1573 3,700 1626 1,700 Normal Profit $1.43 0.57 1.14 1.03 0.68 0.57 0.57 1.14 Cost to Price $3.42 2.62 4.22 3.53 2.28 3.08 1.82 5.93 $5.13 3.99 5.70 3.65 3.71 4.33 2.85 6.84 $0.40 0.57 0.46 0.29...
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...
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...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago