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

Question

Exercise 9-7 Bridgeport Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-i Cost of Cost per Cost toEstimated Completion and Normal Item No. QuantityUnit Replace Selling Price 1320 1,400 $3.84 1333 1,100 1426 1,000 5.40 1437 1,200 1510 1522 700 3.60 1573 3,2002.16 1626 1,200 5.64 3.60 2.76 4.44 3.72 2.40 3.24 1.92 6.24 $5.40 4.20 6.00 3.84 3.90 4.56 3.00 7.20 Disposal $0.42 0.60 0.48 0.30 0.96 0.48 0.90 0.60 Profit $1.50 0.60 1.20 1.08 0.72 0.60 0.60 1.20 3.24 4.32 900 2.70 From the information above, determine the amount of Bridgeport Company inventory. The amount of Bridgeport Company's inventory s Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT

Explanation / Answer

NRV = estimated selling price -cost of completion and disposal floor price = NRV-normal profit item no cost per cost to NRV floor LCM Quantity final unit replace ceiling price value 1320 3.84 3.6 4.98 3.48 3.6 1,400 5040 1333 3.24 2.76 3.6 3 3 1,100 3300 1426 5.4 4.44 5.52 4.32 4.44 1,000 4440 1437 4.32 3.72 3.54 2.46 3.54 1,200 4248 1510 2.7 2.4 2.94 2.22 2.4 900 2160 1522 3.6 3.24 4.08 3.48 3.48 700 2436 1573 2.16 1.92 2.1 1.5 1.92 3,200 6144 1626 5.64 6.24 6.6 5.4 5.64 1,200 6768 34536 the amount of Bridgeport company's inventory 34,536

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