Question
Exercise 9-3 Your answer is incorrect. Try again. Sage Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No.
| Your answer is incorrect. Try again. | |
Sage 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 | 2,000 | $3.71 | $5.22 | $1.86 |
| 1333 | 1,700 | 3.13 | 3.94 | 1.16 |
| 1426 | 1,600 | 5.22 | 5.80 | 1.62 |
| 1437 | 1,800 | 4.18 | 3.71 | 1.57 |
| 1510 | 1,500 | 2.61 | 3.77 | 1.62 |
| 1522 | 1,300 | 3.48 | 4.52 | 0.93 |
| 1573 | 3,800 | 2.09 | 2.90 | 1.39 |
| 1626 | 1,800 | 5.45 | 6.96 | 1.74 |
From the information above, determine the amount of Sage Company inventory.
| The amount of Sage Companys inventory | $ |
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Auditing The Art and Science of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones
13th Canadian edition
133405508, 978-0133405507
