Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 9-3 Marigold Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. Quantity Cost per Unit Estimated Selling
Exercise 9-3
Marigold Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis.
| Item No. | Quantity | Cost per Unit | Estimated Selling Price | Cost to Complete and Sell | ||||
| 1320 | 1,700 | $3.62 | $5.09 | $1.81 | ||||
| 1333 | 1,400 | 3.05 | 3.84 | 1.13 | ||||
| 1426 | 1,300 | 5.09 | 5.65 | 1.58 | ||||
| 1437 | 1,500 | 4.07 | 3.62 | 1.53 | ||||
| 1510 | 1,200 | 2.54 | 3.67 | 1.58 | ||||
| 1522 | 1,000 | 3.39 | 4.41 | 0.90 | ||||
| 1573 | 3,500 | 2.03 | 2.83 | 1.36 | ||||
| 1626 | 1,500 | 5.31 | 6.78 | 1.70 |
From the information above, determine the amount of Marigold Company inventory.
| The amount of Marigold Companys inventory | $ |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started