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
|
1,900
|
$5.82
|
$5.46
|
$8.19
|
$O.64
|
$2.28
|
|
1333
|
1,600
|
4.91
|
4.19
|
6.19
|
0.91
|
0.91
|
|
1426
|
1,500
|
8.19
|
6.73
|
9.10
|
0.73
|
1.82
|
|
1437
|
1,700
|
6.55
|
5.64
|
5.82
|
0.82
|
1.64
|
|
1510
|
1,400
|
4.10
|
3.64
|
5.92
|
1.46
|
1.09
|
|
1522
|
1,200
|
5.46
|
4.91
|
7.10
|
0.73
|
0.91
|
|
1573
|
3,700
|
3.28
|
2.91
|
4.55
|
1.37
|
0.91
|
|
1626
|
1,700
|
8.55
|
9.46
|
10.92
|
0.91
|
1.82
|
From the information above, determine the amount of Sedato Company's inventory.