Sandhill company has provided you with the following information regarding its inventory of copper for September and October. Sandhill uses a perpetual inventory system.
September 30 October 31
Copper inventory (in tonnes) 2,500 2,000
Cost per tonne $550 $590
NRV per tonne $585 $525

a) Calculate the cost, the net realizable value, and the amount to be report on the balance sheet for Sandhill inventory at (1) September 30 and (2) October 31.


Tonnes Total Cost Total NRV LCNRV
(1) Sept. 30 2,500 $ $ $
(2) Oct. 31 2,000