Coronado Company follows the practice of pricing its inventory at LCNRV, on an individuál-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 The amount of Coronado Company's inventory $ 1.51 1.57 0.90 1.34 1.68 From the information above, determine the amount of Coronado Company inventory.
Coronado Company follows the practice of pricing its inventory at LCNRV, on an individuál-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 The amount of Coronado Company's inventory $ 1.51 1.57 0.90 1.34 1.68 From the information above, determine the amount of Coronado Company inventory.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 5E: Inventory Write-Down The following information is taken from Aden Companys records: Required: 1....
Related questions
Question
![Coronado Company follows the practice of pricing its inventory at LCNRV, on an individuál-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
The amount of Coronado Company's inventory $
1.51
1.57
0.90
1.34
1.68
From the information above, determine the amount of Coronado Company inventory.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0c0641eb-4aac-4481-bee5-70a54cabe3f1%2Fd7fcc560-1924-427a-a027-af0820e079b5%2Fl6r04js_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Coronado Company follows the practice of pricing its inventory at LCNRV, on an individuál-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
The amount of Coronado Company's inventory $
1.51
1.57
0.90
1.34
1.68
From the information above, determine the amount of Coronado Company inventory.
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