Exercise 9-7 Riverbed Company follows the practice of pricing its inventory at t

Question

Exercise 9-7 Riverbed Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item basis Cost per Estimated Selling Price Cost of Completion and Disposal Item No. Quantity Unit Replace 1320 1,800 1333 1,500 1426 1,400 1437 1,600 1510 1,300 1522 1,100 1573 3,600 1626 1,600 Cost to Normal Profit $1.40 0.56 1.12 1.01 0.67 0.56 0.56 1.12 $3.58 $3.36 2.58 3.02 5.04 4.03 2.52 3.36 2.02 5.26 3.47 2.24 3.02 1.79 5.82 $5.04 3.92 5.60 3.58 3.64 4.26 2.80 6.72 $0.39 0.56 0.45 0.28 0.90 0.45 0.84 0.56 From the information above, determine the amount of Riverbed Company inventory The amount of Riverbed Company's inventorys

Explanation / Answer

Item Quantity cost per cost NRV NRV- MV Quantity final No unit to normal inventory replace value value 1320 1,800 3.58 3.36 4.65 3.25 3.36 1,800 6048 1333 1,500 3.02 2.58 3.36 2.8 2.8 1,500 4200 1426 1,400 5.04 4.14 5.15 4.03 4.14 1,400 5796 1437 1,600 4.03 3.47 3.3 2.29 3.3 1,600 5280 1510 1,300 2.52 2.24 2.74 2.07 2.24 1,300 2912 1522 1,100 3.36 3.02 3.81 3.25 3.25 1,100 3575 1573 3,600 2.02 1.79 1.96 1.4 1.79 3,600 6444 1626 1,600 5.26 5.82 6.16 5.04 5.26 1,600 8416 42671 inventory 42671

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