Question
Questions 10-14 are with reference to the following information: Amco, Inc. manufactures stereo turntables in the United States. It reports its financial information on
Questions 10-14 are with reference to the following information: Amco, Inc. manufactures stereo turntables in the United States. It reports its financial information on a calendar year basis. For its FY 2020 it shows the following per unit information for its turntables: Inventory January 1 Components and Materials Purchased FY 2020 Transportation of Components to Amco's Factory Insurance on Components and Materials Pending Delivery Labor to Assemble Components into Finished Turntables Office Overhead Related to Manufacture Marketing Costs Storage of Materials and Work in Process -0- $125 35 10 90 30 80 10 10 10 500 Storage of Finished Goods Security & Insurance for Finished Goods Amco's Target Sales Price Inventory Costing Method Used Specific Identification There are no sales during FY 2020. There is no work in process as of 12/31/2020. Assuming no other information is available or relevant, what is the DOLLAR VALUE of Amco's 10. Per unit inventory as of 12/31/2020?: wwwwwwwwww 11. Assuming the above and that Amco determines as of December 31 there is insufficient demand for its turntables and sets a new target sales price of $310 per unit, what is the DOLLAR VALUE of Amco's per unit inventory as of 12/31/2020? wwwwwwww
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