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Homework answers / question archive / Sarasota Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis

Sarasota Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis

Accounting

Sarasota 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 Profitt
1320 1,500 $3.39 $3.18 $4.77 $0.37 $1.33
1333 1,200 2.86 2.44 3.71 0.53 0.53
1426 1,100 4.77 3.92 5.3 0.42 1.06
1437 1,300 3.82 3.29 3.39 0.27 0.95
1510 1,000 2.39 2.12 3.45 0.85 0.64
1522 800 3.18 2.86 4.03 0.42 0.53
1573 3,300 1.91 1.7 2.65 0.8 0.53
1626 1,300 4.98 5.51 6.36 0.53 1.06

 

From the information above, determine the amount of Sarasota Company inventory.

The amount of Sarasota Company's inventory

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2.88 USD

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