Answer:
Wildhorse Company
The amount of the inventory is:
= $30,496.
Explanation:
a) Data and Calculations:
Item No. Quantity Cost per Estimated Cost to NRV LCNRV Inventory
Unit Selling Price Sell Value
1320 1,400 $3.78 $5.31 $1.89 $3.42 $3.42 $4,788
1333 1,100 3.19 4.01 1.18 2.83 2.83 3,113
1426 1,000 5.31 5.90 1.65 4.25 4.25 4,250
1437 1,200 4.25 3.78 1.59 2.19 2.19 2,628
1510 900 2.66 3.84 1.65 2.19 2.19 1,971
1522 700 3.54 4.60 0.94 3.66 3.54 2,478
1573 3,200 2.12 2.95 1.42 1.53 1.53 4,896
1626 1,200 5.55 7.08 1.77 5.31 5.31 6,372
Inventory value = $30,496
