Pronghorn Company follows the practice of pricing its inventory at the lower-of-cost-or-market, on an individual-item...
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Accounting
Pronghorn 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 | ||||||||||||
| 1320 | 1,500 | $3.87 | $3.63 | $5.45 | $0.42 | $1.51 | ||||||||||||
| 1333 | 1,200 | 3.27 | 2.78 | 4.24 | 0.61 | 0.61 | ||||||||||||
| 1426 | 1,100 | 5.45 | 4.48 | 6.05 | 0.48 | 1.21 | ||||||||||||
| 1437 | 1,300 | 4.36 | 3.75 | 3.87 | 0.30 | 1.09 | ||||||||||||
| 1510 | 1,000 | 2.72 | 2.42 | 3.93 | 0.97 | 0.73 | ||||||||||||
| 1522 | 800 | 3.63 | 3.27 | 4.60 | 0.48 | 0.61 | ||||||||||||
| 1573 | 3,300 | 2.18 | 1.94 | 3.03 | 0.91 | 0.61 | ||||||||||||
| 1626 | 1,300 | 5.69 | 6.29 | 7.26 | 0.61 | 1.21 | ||||||||||||
From the information above, determine the amount of Pronghorn Company inventory.
| The amount of Pronghorn Companys inventory |
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