Question: Exercise 9-7 x Your answer is incorrect. Try again. Cheyenne Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.

 Exercise 9-7 x Your answer is incorrect. Try again. Cheyenne Company

Exercise 9-7 x Your answer is incorrect. Try again. Cheyenne Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost per Unit $3.78 3.19 5.31 Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,300 1,000 900 1,100 800 600 3,100 1,100 Cost to Replace $3.54 2.71 4.37 3.66 2.36 3.19 1.89 6.14 4.25 Cost of Completion and Disposal $0.41 0.59 0.47 0.30 0.94 0.47 0.89 0.59 $5.31 4.13 5.90 3.78 3.84 4.48 2.95 7.08 Normal Profit $1.48 0.59 1.18 1.06 0.71 0.59 0.59 1.18 2.66 3.54 2.12 5.55 From the information above, determine the amount of Cheyenne Company inventory. The amount of Cheyenne Company's inventory 33454

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!