Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ayayai Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. Quantity Cost per Unit Cost to Replace

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

Item No.

Quantity

Cost per Unit

Cost to Replace

Estimated Selling Price

Cost of Completion and Disposal

Normal Profit

Item No.

Quantity

Cost per Unit

Cost to Replace

Estimated Selling Price

Cost of Completion and Disposal

Normal Profit

1320

1,400

$3.30

$3.09

$4.64

$0.36

$1.29

1333

1,100

2.78

2.37

3.61

0.52

0.52

1426

1,000

4.64

3.81

5.15

0.41

1.03

1437

1,200

3.71

3.19

3.30

0.26

0.93

1510

900

2.32

2.06

3.35

0.82

0.62

1522

700

3.09

2.78

3.91

0.41

0.52

1573

3,200

1.85

1.65

2.58

0.77

0.52

1626

1,200

4.84

5.36

6.18

0.52

1.03

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

The amount of Ayayai Companys inventory

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Verify the statement made in the remark following Example 10.2.

Answered: 1 week ago

Question

=+Does it present new cocktails or review restaurants?

Answered: 1 week ago

Question

=+Is the message on-strategy?

Answered: 1 week ago