Production and sales estimates for March for Robin Co. are as follows: Estimated inventory (units), March 1 17,500 Desired inventory (units), March 31 19,300     Expected sales volume (units):      Area M 6,200    Area L 9,600    Area O 7,800 Unit sales price $12 The number of units expected to be manufactured in March is

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A:

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A: The correct answer is Option (a).

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.