Amco, Inc. manufactures stereo turntables in the United States. It reports its financial information on a calendar year basis. For its FY 2020 it shows the following per unit information for its turntables:

Inventory January 1 -0-

Components and Materials Purchased FY 2020 $125

Transportation of Components to Amcos Factory 35

Insurance on Components and Materials Pending Delivery 10

Labor to Assemble Components into Finished Turntables 90

Office Overhead Related to Manufacture 30

Marketing Costs 80

Storage of Materials and Work in Process 10

Storage of Finished Goods 10

Security & Insurance for Finished Goods 10

Amcos Target Sales Price 500

Inventory Costing Method Used Specific Identification

There are no sales during FY 2020. There is no work in process as of 12/31/2020.

Assuming no other information is available or relevant, what is the DOLLAR VALUE of Amcos

1. Per unit inventory as of 12/31/2020? __________________________________

11. Assuming the above and that Amco determines as of December 31 there is insufficient demand for its turntables and sets a new target sales price of $310 per unit, what is the DOLLAR VALUE of Amcos per unit inventory as of 12/31/2020? ______________________________

12. Assuming the above and that Amco determines as of December 31 there is insufficient demand for its turntables and sets a new target sales price of $280 per unit, what is the DOLLAR VALUE of Amcos per unit inventory as of 12/31/2020? ____________________________

13. Assuming the above, that Amco has determined as of December 31, 2020 there is insufficient demand for its turntables and sets a new target sales price of $250 per unit, and that during FY 2021, Amco has determined that demand for turntables has increased and sets a new target per unit sales price of $400, what will the likely DOLLAR VALUE of Amcos per unit inventory be as of 12/31/2021? ____________________________

14. What would the answer to Question 13 be (also assuming US dollars and Euros are trading at parity) if Amco were headquartered and operating instead in Hamburg, Germany? ___________________________