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Grouper 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
Grouper 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 | 1,300 | $3.26 | $3.06 | $4.59 | $0.36 | $1.28 | ||||||||||||
1333 | 1,000 | 2.75 | 2.35 | 3.57 | 0.51 | 0.51 | ||||||||||||
1426 | 900 | 4.59 | 3.77 | 5.10 | 0.41 | 1.02 | ||||||||||||
1437 | 1,100 | 3.67 | 3.16 | 3.26 | 0.26 | 0.92 | ||||||||||||
1510 | 800 | 2.30 | 2.04 | 3.32 | 0.82 | 0.61 | ||||||||||||
1522 | 600 | 3.06 | 2.75 | 3.88 | 0.41 | 0.51 | ||||||||||||
1573 | 3,100 | 1.84 | 1.63 | 2.55 | 0.77 | 0.51 | ||||||||||||
1626 | 1,100 | 4.79 | 5.30 | 6.12 | 0.51 | 1.02 |
From the information above, determine the amount of Grouper Company inventory.
The amount of Grouper Companys inventory: $__________ |
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