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Exercise 9-07 Metlock Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost of Completion and
Exercise 9-07 Metlock Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Estimated Selling Price Cost of Completion and Disposal Cost Item Cost to Normal per Replace Profit No. Quantity Unit $4.95 1320 1,700 $3.52 $3.30 $0.39 $1.38 2.53 3.85 1333 1,400 2.97 0.55 0.55 0.44 1426 1,300 4.95 4.07 5.50 1.10 1,500 3.41 0.28 1437 3.96 3.52 0.99 1,200 0.88 0.66 1510 2.48 2.20 3.58 0.55 1522 1,000 3.30 2.97 4.18 0.44 1573 3,500 1.98 1.76 2.75 0.83 0.55 1,500 1626 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 Company's inventory
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