Grouper Company follows the practice of pricing its inventory at the lowest cost or market, on an
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Grouper Company follows the practice of pricing its inventory at the lowest cost or market, on an individual item basis.
Item No. | Amount | Cost per unit | replacement cost | Estimated sale price | Cost of Completion and Disposition | 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 | 3.57 | 3.68 | 0.29 | 1.04 | ||||||||||||
1510 | 1,500 | 2.59 | 2.30 | 3.74 | 0,92 | 0,69 | ||||||||||||
1522 | 1,300 | 3.45 | 3.11 | 4.37 | 0,46 | 0.58 | ||||||||||||
1573 | 3.800 | 2.07 | 1.84 | 2.88 | 0.86 | 0.58 | ||||||||||||
1626 | 1,800 | 5.41 | 5.98 | 6,90 | 0.58 | 1.15 |
From the above information, determine the amount of inventory at Grouper Company.
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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