Question
In: Accounting
Exercise 9-03 Blue Company follows the practice of pricing its inventory at LCNRV, on an individual-item...
Exercise 9-03 Blue Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. Quantity Cost per Unit Estimated Selling Price Cost to Complete and Sell 1320 1,800 $3.90 $5.49 $1.95 1333 1,500 3.29 4.15 1.22 1426 1,400 5.49 6.10 1.71 1437 1,600 4.39 3.90 1.65 1510 1,300 2.75 3.97 1.71 1522 1,100 3.66 4.76 0.98 1573 3,600 2.20 3.05 1.46 1626 1,600 5.73 7.32 1.83 From the information above, determine the amount of Blue Company inventory. The amount of Blue Company’s inventory $enter The amount of Blue Company’s inventory in dollars. PLEASE SHOW WORK
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Exercise 9-03 Skysong Company follows the practice of pricing its inventory at LCNRV, on an individual-item...
Exercise 9-03
Skysong Company follows the practice of pricing its inventory at
LCNRV, on an individual-item basis.
Item No.
Quantity
Cost
per Unit
Estimated
Selling Price
Cost to Complete
and Sell
1320
1,800
$3.39
$4.77
$1.70
1333
1,500
2.86
3.60
1.06
1426
1,400
4.77
5.30
1.48
1437
1,600
3.82
3.39
1.43
1510
1,300
2.39
3.45
1.48
1522
1,100
3.18
4.13
0.85
1573
3,600
1.91
2.65
1.27
1626
1,600
4.98
6.36
1.59
From the information above, determine the amount of Skysong...
Blue Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item...
Blue Company follows the practice of pricing its inventory at
LCNRV, on an individual-item basis.
Item No.
Quantity
Cost
per Unit
Estimated
Selling Price
Cost to Complete
and Sell
1320
1,800
$3.90
$5.49
$1.95
1333
1,500
3.29
4.15
1.22
1426
1,400
5.49
6.10
1.71
1437
1,600
4.39
3.90
1.65
1510
1,300
2.75
3.97
1.71
1522
1,100
3.66
4.76
0.98
1573
3,600
2.20
3.05
1.46
1626
1,600
5.73
7.32
1.83
From the information above, determine the amount of Blue Company
inventory....
Larkspur Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item...
Larkspur Company follows the practice of pricing its inventory
at LCNRV, on an individual-item basis.
Item No.
Quantity
Cost
per Unit
Estimated
Selling Price
Cost to Complete
and Sell
1320
1,300
$4.00
$5.63
$2.00
1333
1,000
3.38
4.25
1.25
1426
900
5.63
6.25
1.75
1437
1,100
4.50
4.00
1.69
1510
800
2.81
4.06
1.75
1522
600
3.75
4.88
1.00
1573
3,100
2.25
3.13
1.50
1626
1,100
5.88
7.50
1.88
From the information above, determine the amount of Larkspur
Company inventory....
Blue Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Blue 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
1,300
$3.23
$3.03
$4.55
$0.35
$1.26
1333
1,000
2.73
2.32
3.54
0.51
0.51
1426
900
4.55
3.74
5.05
0.40
1.01
1437
1,100
3.64
3.13
3.23
0.25
0.91
1510
800
2.27
2.02
3.28
0.81
0.61
1522
600
3.03
2.73
3.84
0.40
0.51
1573
3,100
1.82...
Blue Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Blue 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
1,500
$3.90
$3.66
$5.49
$0.43
$1.53
1333
1,200
3.29
2.81
4.27
0.61
0.61
1426
1,100
5.49
4.51
6.10
0.49
1.22
1437
1,300
4.39
3.78
3.90
0.31
1.10
1510
1,000
2.75
2.44
3.97
0.98
0.73
1522
800
3.66
3.29
4.64
0.49
0.61
1573
3,300
2.20...
Sheridan Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The...
Sheridan Company uses the LCNRV method, on an individual-item
basis, in pricing its inventory items. The inventory at December
31, 2020, 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
Item H
Item I
Estimated selling price
$130
$119
$103
$97
$119
$97
Cost
81
86
86
86
54
39
Cost to complete
32
32
27
38
32
32
Selling costs
11...
Ayayai Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The...
Ayayai 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 Item H Item I Estimated selling price $128 $118 $102 $96
$118 $96 Cost 80 86 86 86 54 39 Cost to complete 32 32 27 37 32 32
Selling costs 11...
Flint Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The...
Flint 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 Item H Item I Estimated selling price $126 $116 $100 $95
$116 $95 Cost 79 84 84 84 53 38 Cost to complete 32 32 26 37 32 32
Selling costs 11...
Martinez Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Martinez 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
1,600
$3.46
$3.24
$4.86
$0.38
$1.35
1333
1,300
2.92
2.48
3.78
0.54
0.54
1426
1,200
4.86
4.00
5.40
0.43
1.08
1437
1,400
3.89
3.35
3.46
0.27
0.97
1510
1,100
2.43
2.16
3.51
0.86
0.65
1522
900
3.24
2.92
4.10
0.43
0.54
1573
3,400
1.94...
Martinez Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis....
Martinez 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
1,600
$3.46
$3.24
$4.86
$0.38
$1.35
1333
1,300
2.92
2.48
3.78
0.54
0.54
1426
1,200
4.86
4.00
5.40
0.43
1.08
1437
1,400
3.89
3.35
3.46
0.27
0.97
1510
1,100
2.43
2.16
3.51
0.86
0.65
1522
900
3.24
2.92
4.10
0.43
0.54
1573
3,400
1.94...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Prepare ONE Page reflection to the readings of the Perceptual Process incorporating as well one outside...
- How is the internet affecting our everyday life? I just need a rough draft for this...
- Please explain your view of the most difficult aspect of Customs Compliance?
- You are required to write an interactive program that prompts the user for seven (7) real...
- Describe in detail the five-forces model of industry competition. What causes each of the forces to...
- Java Programming. I'm writing this in an IDE called Eclipse. If you could also use comments...
- Scenario: You are a departmental manager in a large community hospital in an urban area. Your...
ADVERTISEMENT