Exercise 9-3

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Michael Bolton 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	$5.28	$4.95	$7.43	$0.58	$2.06
1333	1,400	4.46	3.80	5.78	0.83	0.83
1426	1,300	7.43	6.11	8.25	0.66	1.65
1437	1,500	5.94	5.12	5.28	0.41	1.49
1510	1,200	3.71	3.30	5.36	1.32	0.99
1522	1,000	4.95	4.46	6.27	0.66	0.83
1573	3,500	2.97	2.64	4.13	1.24	0.83
1626	1,500	7.76	8.58	9.90	0.83	1.65

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

The amount of Bolton Companys inventory

$