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Ayayai 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 Profit
| Item No. | | Quantity | | Cost per Unit | | Cost to Replace | | Estimated Selling Price | | Cost of Completion and Disposal | | Normal Profit |
| 1320 | | 1,400 | | | $3.30 | | | $3.09 | | | $4.64 | | | $0.36 | | | $1.29 |
| 1333 | | 1,100 | | | 2.78 | | | 2.37 | | | 3.61 | | | 0.52 | | | 0.52 |
| 1426 | | 1,000 | | | 4.64 | | | 3.81 | | | 5.15 | | | 0.41 | | | 1.03 |
| 1437 | | 1,200 | | | 3.71 | | | 3.19 | | | 3.30 | | | 0.26 | | | 0.93 |
| 1510 | | 900 | | | 2.32 | | | 2.06 | | | 3.35 | | | 0.82 | | | 0.62 |
| 1522 | | 700 | | | 3.09 | | | 2.78 | | | 3.91 | | | 0.41 | | | 0.52 |
| 1573 | | 3,200 | | | 1.85 | | | 1.65 | | | 2.58 | | | 0.77 | | | 0.52 |
| 1626 | | 1,200 | | | 4.84 | | | 5.36 | | | 6.18 | | | 0.52 | | | 1.03 |
From the information above, determine the amount of Ayayai Company inventory.
| The amount of Ayayai Companys inventory |
Answer & Explanation
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