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Marigold 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
Marigold 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 | 1,400 | $3.33 | $3.12 | $4.68 | $0.36 | $1.30 | ||||||||||||
1333 | 1,100 | 2.81 | 2.39 | 3.64 | 0.52 | 0.52 | ||||||||||||
1426 | 1,000 | 4.68 | 3.85 | 5.20 | 0.42 | 1.04 | ||||||||||||
1437 | 1,200 | 3.74 | 3.22 | 3.33 | 0.26 | 0.94 | ||||||||||||
1510 | 900 | 2.34 | 2.08 | 3.38 | 0.83 | 0.62 | ||||||||||||
1522 | 700 | 3.12 | 2.81 | 3.95 | 0.42 | 0.52 | ||||||||||||
1573 | 3,200 | 1.87 | 1.66 | 2.60 | 0.78 | 0.52 | ||||||||||||
1626 | 1,200 | 4.89 | 5.41 | 6.24 | 0.52 | 1.04 |
From the information above, determine the amount of Marigold Company inventory.
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