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

Question

Exercise 9-7 Monty Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an in Cost per Estimated Cost of Completion Item Cost to Selling Normal No. Quantity Unit Replace Price and Disposal Profit 1320 1,600 $3.46 1333 1,3002.92 4.86 3.89 1426 1,200 1437 1,400 1510 1,100 2.43 1522 900 1573 3,400 1626 1,400 5.08 $3.24 2.48 4.00 3.35 2.16 2.92 1.73 5.62 $4.86 3.78 5.40 3.46 3.51 4.10 2.70 6.48 $0.38 0.54 0.43 0.27 0.86 0.43 0.81 0.54 $1.35 0.54 1.08 0.97 0.65 0.54 0.54 1.08 3.24 1.94 From the information above, determine the amount of Monty Company inventory. The amount of Monty Company's inventory Click if you would like to Show Work for this question: Open Show Work e here to search [D

Explanation / Answer

Item No. Cost per unit Cost to Replace NRV Net Realisable value less Normal Profit MV Quantity Final Inventory Value 1320 3.46 3.24 4.48 3.13 3.24 1600 5184 1333 2.92 2.48 3.24 2.70 2.7 1300 3510 1426 4.86 4.00 4.97 3.89 4 1200 4800 1437 3.89 3.35 3.19 2.22 3.19 1400 4466 1510 2.43 2.16 2.65 2.00 2.16 1100 2376 1522 3.24 2.92 3.67 3.13 3.13 900 2817 1573 1.94 1.73 1.89 1.35 1.73 3400 5882 1626 5.08 5.62 5.94 4.86 5.08 1400 7112 Amount og Monthly Company's Inventory 36147

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