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Exercise 9-7 Marin 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
Exercise 9-7
Marin 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 | 1,900 | $3.62 | $3.39 | $5.09 | $0.40 | $1.41 |
1333 | 1,600 | 3.05 | 2.60 | 3.96 | 0.57 | 0.57 |
1426 | 1,500 | 5.09 | 4.18 | 5.65 | 0.45 | 1.13 |
1437 | 1,700 | 4.07 | 3.50 | 3.62 | 0.28 | 1.02 |
1510 | 1,400 | 2.54 | 2.26 | 3.67 | 0.90 | 0.68 |
1522 | 1,200 | 3.39 | 3.05 | 4.29 | 0.45 | 0.57 |
1573 | 3,700 | 2.03 | 1.81 | 2.83 | 0.85 | 0.57 |
1626 | 1,700 | 5.31 | 5.88 | 6.78 | 0.57 | 1.13 |
From the information above, determine the amount of Marin Company inventory.
The amount of Marin Companys inventory | $ |
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