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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
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 | 1,500 | $4.99 | $4.68 | $7.02 | $0.55 | $1.95 | ||||||||||||
1333 | 1,200 | 4.21 | 3.59 | 5.46 | 0.78 | 0.78 | ||||||||||||
1426 | 1,100 | 7.02 | 5.77 | 7.80 | 0.62 | 1.56 | ||||||||||||
1437 | 1,300 | 5.62 | 4.84 | 4.99 | 0.39 | 1.40 | ||||||||||||
1510 | 1,000 | 3.51 | 3.12 | 5.07 | 1.25 | 0.94 | ||||||||||||
1522 | 800 | 4.68 | 4.21 | 5.93 | 0.62 | 0.78 | ||||||||||||
1573 | 3,300 | 2.81 | 2.50 | 3.90 | 1.17 | 0.78 | ||||||||||||
1626 | 1,300 | 7.33 | 8.11 | 9.36 | 0.78 | 1.56 |
From the information above, determine the amount of Bolton Company inventory.
The amount of Bolton Company |
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