**Inventory Pricing at LCM - Sunshine Company****Itemized Pricing Details:**- **Item No. A** - Quantity: 1,200 - Cost per Unit: $8.10 - Cost to Replace: $8.00 - Estimated Selling Price: $9.00 - Cost of Completion and Disposal: $0.35 - Normal Profit: $0.90- **Item No. B** - Quantity: 600 - Cost per Unit: $6.00 - Cost to Replace: $5.60 - Estimated Selling Price: $6.00 - Cost of Completion and Disposal: $0.45 - Normal Profit: $0.50- **Item No. C** - Quantity: 200 - Cost per Unit: $5.50 - Cost to Replace: $5.00 - Estimated Selling Price: $7.00 - Cost of Completion and Disposal: $0.40 - Normal Profit: $1.00- **Item No. D** - Quantity: 700 - Cost per Unit: $7.25 - Cost to Replace: $7.50 - Estimated Selling Price: $8.00 - Cost of Completion and Disposal: $0.50 - Normal Profit: $0.90- **Item No. E** - Quantity: 1,000 - Cost per Unit: $2.10 - Cost to Replace: $2.00 - Estimated Selling Price: $2.80 - Cost of Completion and Disposal: $0.65 - Normal Profit: $0.20- **Item No. F** - Quantity: 500 - Cost per Unit: $4.05 - Cost to Replace: $4.00 - Estimated Selling Price: $5.00 - Cost of Completion and Disposal: $0.40 - Normal Profit: $0.75- **Item No. G** - Quantity: 2,000 - Cost per Unit: $8.75 - Cost to Replace: $8.15 - Estimated Selling Price: $9.00 - Cost of Completion and Disposal: $0

INVENTORY It refers to the value of parts, raw materials, semi-finished products, and finished products used in manufacturing. Refers to the value of all items available and sold directly to customers. Qty Cost Estimated selling Price Completion/ disposal cost Net Selling Price Inventory with low cost or market value Inventory value A 1,200 8.10 9 0.35 8.65 8.10 9,720 B 600 6.00 6 0.45 5.55 5.55 3,330 C 200 5.50 7 0.40 6.60 5.50 1,100 D 700 7.25 8 0.50 7.50 7.25 5,075 E 1,000 2.10 2.8 0.65 2.15 2.10 2,100 F 500 4.05 5 0.40 4.60 4.05 2,025 G 2,000 8.75 9 0.60 8.40 8.40 16,800 H 300 9.95 10.5 0.30 10.20 9.95 2,985 43,135

Business

Accounting

LO 2) (LCM) Sunshine Company follows the practice of p al-item basis. No. A 3 D Quantity 1,200 600 200 700 Cost per Unit $8.10 6.00 5.50 7.25 Cost to Replace $8.00 5.60 5.00 7.50 Estimated Selling Price $9.00 6.00 7.00 8.00 0.00 2

LO 2) (LCM) Sunshine Company follows the practice of p al-item basis. No. A 3 D Quantity 1,200 600 200 700 Cost per Unit $8.10 6.00 5.50 7.25 Cost to Replace $8.00 5.60 5.00 7.50 Estimated Selling Price $9.00 6.00 7.00 8.00 0.00 2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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