Question:
Sedato 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
|
|
$5.86
|
|
$5.49
|
|
$8.24
|
|
$0.64
|
|
$2.29
|
|
1333
|
|
1,200
|
|
4.94
|
|
4.21
|
|
6.22
|
|
0.92
|
|
0.92
|
|
1426
|
|
1,100
|
|
8.24
|
|
6.77
|
|
9.15
|
|
0.73
|
|
1.83
|
|
1437
|
|
1,300
|
|
6.59
|
|
5.67
|
|
5.86
|
|
0.82
|
|
1.65
|
|
1510
|
|
1,000
|
|
4.12
|
|
3.66
|
|
5.95
|
|
1.46
|
|
1.10
|
|
1522
|
|
800
|
|
5.49
|
|
4.94
|
|
7.14
|
|
0.73
|
|
0.92
|
|
1573
|
|
3,300
|
|
3.29
|
|
2.93
|
|
4.58
|
|
1.37
|
|
0.92
|
|
1626
|
|
1,300
|
|
8.60
|
|
9.52
|
|
10.98
|
|
0.92
|
|
1.83
|
From the information above, determine the amount of Sedato Company's inventory.