Amount of sedato company inventory


Problem: Sedato 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

1,200

$3.20

$3.00

$4.50

$0.35

$1.25

1333

900

2.70

2.30

3.40

0.50

0.50

1426

800

4.50

3.70

5.00

0.40

1.00

1437

1,000

3.60

3.10

3.20

0.45

0.90

1510

700

2.25

2.00

3.25

0.80

0.60

1522

500

3.00

2.70

3.90

0.40

0.50

1573

3,000

1.80

1.60

2.50

0.75

0.50

1626

1,000

4.70

5.20

6.00

0.50

1.00



Instructions:

From the information above, determine the amount of Sedato Company inventory.

Solution Preview :

Prepared by a verified Expert
Finance Basics: Amount of sedato company inventory
Reference No:- TGS01825875

Now Priced at $25 (50% Discount)

Recommended (93%)

Rated (4.5/5)