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Coronado Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.58 3.02 5.04 4.03 2.52 3.36 2.02 5.26 Estimated Selling Price $5.04 3.81 5.60 3.58 3.64 4.37 2.80 6.72 Cost to Complete and Sell $1.79 1.12 1.57 1.51 1.57 0.90 1.34 1.68

Coronado Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.58 3.02 5.04 4.03 2.52 3.36 2.02 5.26 Estimated Selling Price $5.04 3.81 5.60 3.58 3.64 4.37 2.80 6.72 Cost to Complete and Sell $1.79 1.12 1.57 1.51 1.57 0.90 1.34 1.68

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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From the information above, determine the amount of Coronado Company inventory. The amount of Coronado Company's inventory $
Transcribed Image Text:From the information above, determine the amount of Coronado Company inventory. The amount of Coronado Company's inventory $
Coronado Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,600 1,300 1.200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.58 3.02 5.04 4.03 2.52 3.36 2.02 5.26 Estimated Selling Price $5.04 3.81 5.60 3.58 3.64 4.37 2.80 6.72 Cost to Complete and Sell $1.79 1.12 1.57 1.51 1.57 0.90 1.34 1.68
Transcribed Image Text:Coronado Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,600 1,300 1.200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.58 3.02 5.04 4.03 2.52 3.36 2.02 5.26 Estimated Selling Price $5.04 3.81 5.60 3.58 3.64 4.37 2.80 6.72 Cost to Complete and Sell $1.79 1.12 1.57 1.51 1.57 0.90 1.34 1.68
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