Oriole 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 1,400 $3.84 $3.60 $5.40 $0.42 $1.50 1333 1,100 3.24 2.76 4.20 0.60 0.60 1426 1,000 5.40 4.44 6.00 0.48 1.20 1437 1,200 4.32 3.72 3.84 0.30 1.08 1510 900 2.70 2.40 3.90 0.96 0.72 1522 700 3.60 3.24 4.56 0.48 0.60 1573 3,200 2.16 1.92 3.00 0.90 0.60 1626 1,200 5.64 6.24 7.20 0.60 1.20 From the information above, determine the amount of Oriole Company inventory.
Oriole 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 1,400 $3.84 $3.60 $5.40 $0.42 $1.50 1333 1,100 3.24 2.76 4.20 0.60 0.60 1426 1,000 5.40 4.44 6.00 0.48 1.20 1437 1,200 4.32 3.72 3.84 0.30 1.08 1510 900 2.70 2.40 3.90 0.96 0.72 1522 700 3.60 3.24 4.56 0.48 0.60 1573 3,200 2.16 1.92 3.00 0.90 0.60 1626 1,200 5.64 6.24 7.20 0.60 1.20 From the information above, determine the amount of Oriole Company inventory.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Oriole 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
|
1,400 | $3.84 | $3.60 | $5.40 | $0.42 | $1.50 | ||||||||||||
1333
|
1,100 | 3.24 | 2.76 | 4.20 | 0.60 | 0.60 | ||||||||||||
1426
|
1,000 | 5.40 | 4.44 | 6.00 | 0.48 | 1.20 | ||||||||||||
1437
|
1,200 | 4.32 | 3.72 | 3.84 | 0.30 | 1.08 | ||||||||||||
1510
|
900 | 2.70 | 2.40 | 3.90 | 0.96 | 0.72 | ||||||||||||
1522
|
700 | 3.60 | 3.24 | 4.56 | 0.48 | 0.60 | ||||||||||||
1573
|
3,200 | 2.16 | 1.92 | 3.00 | 0.90 | 0.60 | ||||||||||||
1626
|
1,200 | 5.64 | 6.24 | 7.20 | 0.60 | 1.20 |
From the information above, determine the amount of Oriole Company inventory.
The amount of Oriole Company’s inventory |

Transcribed Image Text:Current Attempt in Progress
Oriole Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an
individual-item basis.
Estimated
Cost of
Item
Cost
Cost to
Selling
Completion and
Disposal
Normal
No.
Quantity
per Unit
Replace
Price
Profit
1320
1,400
$3.84
$3.60
$5.40
$0.42
$1.50
1333
1,100
3.24
2.76
4.20
0.60
0.60
1426
1,000
5.40
4.44
6.00
0.48
1.20
1437
1,200
4.32
3.72
3.84
0.30
1.08
1510
900
2.70
2.40
3.90
0.96
0.72
1522
700
3.60
3.24
4.56
0.48
0.60
1573
3,200
2.16
1.92
3.00
0.90
0.60
1626
1,200
5.64
6.24
7.20
0.60
1.20
From the information above, determine the amount of Oriole Company inventory.
The amount of Oriole Company's inventory
$
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