Wangerin 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 01320 1,2000  $3.20000 $3.00000 $4.50000000 $0.3500000000 $1.25000 01333 9000 2.70000 2.30000 3.50000000 0.5000000000 0.50000 01426 8000  4.50000 3.70000 5.00000000 0.4000000000 1.00000 01437 1,0000  3.60000 3.10000 3.20000000 0.2500000000 0.90000 01510 7000  2.25000 2.00000 3.25000000 0.8000000000 0.60000 01522 5000  3.00000 2.70000 3.80000000 0.4000000000 0.50000 01573 3,0000  1.80000 1.60000 2.50000000 0.7500000000 0.50000 01626 1,0000  4.70000 5.20000 6.00000000 0.5000000000 1.00000 Instructions From the information above, determine the amount of Wangerin Company inventory.

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A: Replacement cost = $24Ceiling for market = 30-2 = 28Floor value = 28-6 = 22

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Q: kau.2

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Q: Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,500 1,200 1,100 1,300 1,000 800 3.300…

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.