Item Cost to Complete and Sell Cost Estimated No. Quantity per Unit Selling Price 1320 1,200 $3.20 $4.50 $1.60 1333 900 2.70 3.40 1.00 1426 800 4.50 5.00 1.40 1437 1,000 3.60 3.20 1.35 1510 700 2.25 3.25 1.40

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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Question

Compue the value by LCNRV

Item
Cost
Estimated
Cost to Complete
No.
Quantity
per Unit
Selling Price
and Sell
1320
1,200
$3.20
$4.50
$1.60
1333
900
2.70
3.40
1.00
1426
800
4.50
5.00
1.40
1437
1,000
3.60
3.20
1.35
1510
700
2.25
3.25
1.40
1522
500
3.00
3.90
0.80
1.80
2.50
1.20
3,000
1,000
1573
1626
4.70
6.00
1.50
Transcribed Image Text:Item Cost Estimated Cost to Complete No. Quantity per Unit Selling Price and Sell 1320 1,200 $3.20 $4.50 $1.60 1333 900 2.70 3.40 1.00 1426 800 4.50 5.00 1.40 1437 1,000 3.60 3.20 1.35 1510 700 2.25 3.25 1.40 1522 500 3.00 3.90 0.80 1.80 2.50 1.20 3,000 1,000 1573 1626 4.70 6.00 1.50
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