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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 | 1,800 | $4.26 | $3.99 | $5.99 | $0.47 | $1.66 | ||||||||||||
1333 | 1,500 | 3.59 | 3.06 | 4.66 | 0.67 | 0.67 | ||||||||||||
1426 | 1,400 | 5.99 | 4.92 | 6.65 | 0.53 | 1.33 | ||||||||||||
1437 | 1,600 | 4.79 | 4.12 | 4.26 | 0.33 | 1.20 | ||||||||||||
1510 | 1,300 | 2.99 | 2.66 | 4.32 | 1.06 | 0.80 | ||||||||||||
1522 | 1,100 | 3.99 | 3.59 | 5.05 | 0.53 | 0.67 | ||||||||||||
1573 | 3,600 | 2.39 | 2.13 | 3.33 | 1.00 | 0.67 | ||||||||||||
1626 | 1,600 | 6.25 | 6.92 | 7.98 | 0.67 | 1.33 |
From the information above, determine the amount of Bolton Company inventory.
The amount of Bolton Company |
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