Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2018...

3.7 Ratings (413 Votes)

1		Cost	Net Realizable Value	By Individual Products	By Product Type	By Total Inventory
	Product
	Tools:
	Hammers	$ 627	$ 682	$ 627
	Saws	$ 2,889	$ 2,619	$ 2,619
	Screwdrivers	$ 999	$ 1,221	$ 999
	Total tools	$ 4,515	$ 4,522		$ 4,515
	Paint Products:
	1 - gallon cans	$ 3,819	$ 3,249	$ 3,249
	Paint brushes	$ 517	$ 572	$ 517
	Total paint	$ 4,336	$ 3,821		$ 3,821
	Total	$ 8,851	$ 8,343	$ 8,011	$ 8,336	$ 8,343


2
(a)	Individual Products	=	$ 840
(b)	Product Categories	=	$ 515
(c)	Total Inventory	=	$ 508

	Workings:
		Quantity	Per unit cost	Cost	Net Realizable Value per unit	Net Realizable Value
		(i)	(ii)	(i) X (ii)	(iii)	(i) X (iii)
	Tools:
	Hammers	110	$ 5.70	$ 627	$ 6.20	$ 682
	Saws	270	$ 10.70	$ 2,889	$ 9.70	$ 2,619
	Screwdrivers	370	$ 2.70	$ 999	$ 3.30	$ 1,221
	1 - gallon cans	570	$ 6.70	$ 3,819	$ 5.70	$ 3,249
	Paint brushes	110	$ 4.70	$ 517	$ 5.20	$ 572

2
(a)	Individual Products	=	$8851 - $8011	=	$ 840
(b)	Product Categories	=	$8851 - $8336	=	$ 515
(c)	Total Inventory	=	$8851 - $8343	=	$ 508

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Inventory, by Product Category	Quantity	Per Unit Cost		Net Realizable Value
Tools:
Hammers	110	$	5.70	$	6.20
Saws	270		10.70		9.70
Screwdrivers	370		2.70		3.30
Paint products:
1-gallon cans	570		6.70		5.70
Paint brushes	110		4.70		5.20

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