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 | 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. | 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 | 1,800 | $3.58 | $3.36 | $5.04 | $0.39 | $1.40 | $4.65 | $3.25 | $3.36 | $3.36 | $6,048 |
| 1333 | 1,500 | 3.02 | 2.58 | 3.92 | 0.56 | 0.56 | $3.36 | $2.80 | $2.80 | $2.80 | $4,200 |
| 1426 | 1400 | 5.04 | 4.14 | 5.60 | 0.45 | 1.12 | $5.15 | $4.03 | $4.14 | $4.14 | $5,796 |
| 1437 | 1,600 | 4.03 | 3.47 | 3.58 | 0.28 | 1.01 | $3.30 | $2.29 | $3.30 | $3.30 | $5,280 |
| 1510 | 1300 | 2.52 | 2.24 | 3.64 | 0.90 | 0.67 | $2.74 | $2.07 | $2.24 | $2.24 | $2,912 |
| 1522 | 1100 | 3.36 | 3.02 | 4.26 | 0.45 | 0.56 | $3.81 | $3.25 | $3.25 | $3.25 | $3,575 |
| 1573 | 3,600 | 2.02 | 1.79 | 2.80 | 0.84 | 0.56 | $1.96 | $1.40 | $1.79 | $1.79 | $6,444 |
| 1626 | 1,600 | 5.26 | 5.82 | 6.72 | 0.56 | 1.12 | $6.16 | $5.04 | $5.82 | $5.26 | $8,416 |
| Total | $42,671 | ||||||||||
| The amount of Coronado Company’s inventory $42671 | |||||||||||
Add Answer to:
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 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...
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...
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...
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...
Sheridan Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Sheridan 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 $3.42 $3.21 $4.82 $0.37 $1.34 1333 1,300 2.89 2.46 3.75 0.54 0.54 1426 1,200 4.82 3.96 5.35 0.43 1.07 1437 1,400 3.85 3.32 3.42 0.27 0.96 1510 1,100 2.41 2.14 3.48 0.86 0.64 1522 900 3.21 2.89 4.07 0.43 0.54 1573 3,400 1.93...
Blossom Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Blossom Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.94 3.32 5.54 4.43 2.77 3.69 2.21 5.78 Cost to Replace $3.69 2.83 4.55 3.81 2.46 3.32 1.97 6.40 Estimated Selling Price $5.54 4.31 6.15 3.94 4.00 4.67 3.08 Cost of Completion and Disposal $0.43 0.62 0.49 0.31 0.98 0.49 0.92 0.62...
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...
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...
Sheridan 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 $3.42 $3.21 $4.82 $0.37 $1.34 1333 1,300 2.89 2.46 3.75 0.54 0.54 1426 1,200 4.82 3.96 5.35 0.43 1.07 1437 1,400 3.85 3.32 3.42 0.27 0.96 1510 1,100 2.41 2.14 3.48 0.86 0.64 1522 900 3.21 2.89 4.07 0.43 0.54 1573 3,400 1.93...
Blossom Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.94 3.32 5.54 4.43 2.77 3.69 2.21 5.78 Cost to Replace $3.69 2.83 4.55 3.81 2.46 3.32 1.97 6.40 Estimated Selling Price $5.54 4.31 6.15 3.94 4.00 4.67 3.08 Cost of Completion and Disposal $0.43 0.62 0.49 0.31 0.98 0.49 0.92 0.62...
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