Wildhorse Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.Item No.13201333142614371510152215731626Quantity1,3001,0009001,1008006003,1001,100Cost perUnit$3.783.195.314.252.663.542.125.55Cost toReplace$3.54The amount of Wildhorse Company's inventory2.714.373.662.363.191.896.14Estimated SellingPriceLA$5.314.135.903.783.844.482.95From the information above, determine the amount of Wildhorse Company inventory.7.08Cost of Completion andDisposal$0.410.590.470.300.940.470.890.59NormalProfit$1.480.591.181.060.710.590.591.18

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Description: Wildhorse Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis.Item No.13201333142614371510152215731626Quantity1,3001,0009001,1008006003,1001,100Cost perUnit$3.783.195.314.252.663.542.125.

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Wildhorse Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,300 1,000 900 1,100 800 600 3,100 1,100 Cost per Unit $3.78 3.19 5.31 4.25 2.66 3.54 2.12 5.55 Cost to Replace $3.54 2.71 4.37 3.66 2.36 3.19 1.89 6.14 Estimated Selling Price $5.31 4.13 5.90 3.78 3.84 4.48 2.95 7.08 From the information above, determine the amount of Wildhorse Company inventory. Cost of Completion and Disposal $0.41 0.59 0.47 0.30 0.94 0.47 0.89 0.59 Normal Profit $1.48 0.59 1.18 1.06 0.71 0.59 0.59 1.18

Wildhorse Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,300 1,000 900 1,100 800 600 3,100 1,100 Cost per Unit $3.78 3.19 5.31 4.25 2.66 3.54 2.12 5.55 Cost to Replace $3.54 2.71 4.37 3.66 2.36 3.19 1.89 6.14 Estimated Selling Price $5.31 4.13 5.90 3.78 3.84 4.48 2.95 7.08 From the information above, determine the amount of Wildhorse Company inventory. Cost of Completion and Disposal $0.41 0.59 0.47 0.30 0.94 0.47 0.89 0.59 Normal Profit $1.48 0.59 1.18 1.06 0.71 0.59 0.59 1.18

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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