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Current Attempt in Progress Incorrect answer iconYour answer is incorrect. Metlock Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item
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Metlock 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 | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 Metlock Company inventory.
The amount of Metlock Companys inventory | $enter the dollar amount of Metlock Company's inventory |
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