Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of
ID: 2563569 • Letter: I
Question
Item No. Quantity
Cost per Unit
Cost to Replace
Estimated Selling Price
Cost of Completion and Disposal
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 1.76 2.75 0.83 0.55
1626 1,500 5.17 5.72 6.60 0.55 1.10
From the information above, determine the amount of Stellar Company inventory.
The amount of Stellar Company’s inventory
Explanation / Answer
Item no. Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit NRV NRV less profit Market Lower of cost or market Quantity Inventory value 1320 3.52 3.3 4.95 0.39 1.38 4.56 3.18 3.3 3.3 1700 5610 1333 2.97 2.53 3.85 0.55 0.55 3.3 2.75 2.75 2.75 1400 3850 1426 4.95 4.07 5.5 0.44 1.1 5.06 3.96 4.07 4.07 1300 5291 1437 3.96 3.41 3.52 0.28 0.99 3.24 2.25 3.24 3.24 1500 4860 1510 2.48 2.2 3.58 0.88 0.66 2.7 2.04 2.2 2.2 1200 2640 1522 3.3 2.97 4.18 0.44 0.55 3.74 3.19 3.19 3.19 1000 3190 1573 1.98 1.76 2.75 0.83 0.55 1.92 1.37 1.76 1.76 3500 6160 1626 5.17 5.72 6.6 0.55 1.1 6.05 4.95 5.72 5.17 1500 7755 Total 39356 The amount of Stellar Company’s inventory = 39356
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