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The December 31, 2004 inventory of Dwyer Company consisted o

The December 31, 2004 inventory of Dwyer Company consisted of four products, for which certain information is provided below.

Product Original Replacement Estimated Expected Normal
Cost Cost Disposal Selling Profit
Cost Price on Sales

A $35.00 $32.00 $6.50 $50.00 15%
B $52.00 $51.00 $10.00 $60.00 25%
C $140.00 $135.00 $25.00 $200.00 30%
D $24.00 $21.00 $3.00 $35.00 20%

INSTRUCTIONS:
Using the lower of cost or market approach applied on an individual- item basis, compute the inventory valuation that should be reported for each product on December 31, 2004.

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The December 31, 2004 inventory of Dwyer Company consisted of four products, for which certain information is provided below.

Product Original Replacement Estimated Expected Normal
Cost Cost Disposal Selling Profit
Cost Price on Sales

A $35.00 ...

Solution Summary

The December 31, 2004 inventory of Dwyer Company consisted of four products, for which certain information is provided below.

Product Original Replacement Estimated Expected Normal
Cost Cost Disposal Selling Profit
Cost Price on Sales

A $35.00 $32.00 $6.50 $50.00 15%
B $52.00 $51.00 $10.00 $60.00 25%
C $140.00 $135.00 $25.00 $200.00 30%
D $24.00 $21.00 $3.00 $35.00 20%

INSTRUCTIONS:
Using the lower of cost or market approach applied on an individual- item basis, compute the inventory valuation that should be reported for each product on December 31, 2004.

$2.19