Coronado Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item
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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.
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.
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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