Exercise 9-3 Sedato Company follows the practice of pricing its inventory at LCN

Question

Exercise 9-3 Sedato Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Cost per UnitSelling Price Estimated Cost to Complete and Sell Quantity Item No. 1320 1333 1426 1437 1510 1522 1573 1,200 900 800 1,000 700 500 3,000 1,000 $3.20 2.70 4.50 3.60 2.25 3.00 1.80 4.70 $4.50 3.40 5.00 3.20 3.25 3.90 2.50 6.00 $1.60 1.00 1.40 1.35 1.40 0.80 1.20 1.50 1626 From the information above, determine the amount of Sedato Company inventory. The amount of Sedato Company's inventory$

Explanation / Answer

Calculate inventory value :

The amount of Sedato company's inventory is $21565

Item no Quantity Cost per unit NRV per unit LCM value per unit LCM Value 1320 1200 3.20 2.9 2.9 3480 1333 900 2.70 2.4 2.4 2160 1426 800 4.50 3.6 3.6 2880 1437 1000 3.60 1.85 1.85 1850 1510 700 2.25 1.85 1.85 1295 1522 500 3 3.10 3 1500 1573 3000 1.80 1.30 1.30 3900 1626 1000 4.70 4.50 4.50 4500 Total 21565

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