Problem 9-1

Waterway Company manufactures desks. Most of the company's desks are standard models and are sold on the basis of catalog prices. At December 31, 2017, the following finished desks (10 desks in each category) appear in the company's inventory.

Finished Desks

A

B

C

D

2017 catalog selling price $510 $544 $1,021 $1,191

FIFO cost per inventory list 12/31/17 533 510 941 1,089

Estimated cost to complete and sell

57 68 91 147

2018 catalog selling price 567 612 1,021 1,361

The 2017 catalog was in effect through November 2017, and the 2018 catalog is effective as of December 1; catalog prices are net of the usual discounts.

At what amount should each of the four desks appear in the company's December 31, 2017, inventory, assuming that the company has adopted a lower-of-FIFO-cost-or-net realizable value (LCNRV) approach for valuation of inventories on an individual-item basis?

Item A

$

Item B

$

Item C

$

Item D

$