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

Instructions

From the information above, determine the amount of Wangerin Company inventory.

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Cost to Replace Selling Price Cost of Completion and Disposal $0.35 Cost per Unit Estimated Normal Profit $1.25 Item No. Quantity 1,200 $3.20 2.70 4.50 $3.00 2.30 3.70 3.10 $4.50 3.50 1320 1333 1426 1437 900 0.50 0.50 800 5.000 3.20 3.25 3.80 2.50 6.00 0.40 0.25 1.00 3.60 2.25 3.00 1,000 0.90 2.00 2.70 0.60 0.50 1510 1522 1573 1626 700 0.80 500 3,000 0.40 0.75 1.60 5.20 1.80 4.70 0.50 1,000 0.50 1.00