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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 | 1700 | 5.98 | 5.61 | 8.42 | 0.65 | 2.34 |
1333 | 1400 | 5.05 | 4.30 | 6.55 | 0.94 | 0.94 |
1426 | 1300 | 8.42 | 6.92 | 9.35 | 0.75 | 1.87 |
From the information above, determine the amount of Bolton Company inventory.
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