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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
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Please answer fast without plagiarism please and no handwriting please
Transcribed Image Text: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
The amount of Wildhorse Company's inventory
2.71
4.37
3.66
2.36
3.19
1.89
6.14
Estimated Selling
Price
LA
$5.31
4.13
5.90
3.78
3.84
4.48
2.95
From the information above, determine the amount of Wildhorse Company inventory.
7.08
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
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