Pharoah Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below Item D Item E Item F Item G $97 86 Item H Estimated selling price Cost Cost to complete Selling costs $130 81 32 $119 86 32 19 $103 86 27 Item I $97 39 32 $119S 54 32 Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2017, for each of the inventory items above Item D Item E Item F 65 Item G 37 Item H Item I Exercise 9-7 Sage Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis Estimated Cost per Cost of Completion and Disposal Item Cost to Selling Normal No. Quantity Unit Replace 13202,000 1333 1,700 1426 1,600 1437 1,800 1510 1,500 1522 1,300 1573 3,800 1626 1,800 Profit $1.45 0.58 1.16 1.04 0.70 0.58 0.58 1.16 Price $3.48 2.67 4.29 3.60 2.32 3.13 1.86 6.03 $5.22 4.06 5.80 3.71 3.77 4.41 2.90 6.96 $0.41 0.58 0.46 0.29 0.93 0.46 0.87 0.58 $3.71 3.13 5.22 4.18 2.61 3.48 2.09 5.45 From the information above, determine the amount of Sage Company inventory The amount of Sage Company's inventory Vaughn Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts 174,600 607,000 29,300 983,300 67,700 12,700 Compute the estimated inventory at May 31, assuming that the gross profit is 20% of net sales. The estimated inventory at May 31 LINK TO TEX VIDEO: SIMILAR EXERCISE Compute the estimated inventory at May 31, assuming that the gross profit is 20% of cost. (Round percentage of sales to 2 decimal places, eg, 78.74% and final answer to 0 decimal places, e.g. 6,225.) The estimated inventory at May 31 s