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Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. Quantity 1320 1333 1426 1437 1510 1522 1573 1626 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.84 3.24 5.40 4.32 2.70 3,60 2.16 5.64 Estimated Selling Price $5.40 4.08 6.00 3.84 3.90 4.68 3.00 7.20 The amount of Oriole Company's inventory Cost to Complete and Sell $1.92 1.20 1.68 1.62 1.68 0.96 1.44 1.80 From the information above, determine the amount of Oriole Company inventory.

Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. Quantity 1320 1333 1426 1437 1510 1522 1573 1626 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.84 3.24 5.40 4.32 2.70 3,60 2.16 5.64 Estimated Selling Price $5.40 4.08 6.00 3.84 3.90 4.68 3.00 7.20 The amount of Oriole Company's inventory Cost to Complete and Sell $1.92 1.20 1.68 1.62 1.68 0.96 1.44 1.80 From the information above, determine the amount of Oriole Company inventory.

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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Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. Quantity 1320 1333 1426 1437 1510 1522 1573 1626 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.84 3.24 5.40 4.32 2.70 3.60 2.16 5.64 Estimated Selling Price $5.40 4.08 6.00 3.84 3.90 4.68 3.00 The amount of Oriole Company's inventory 7.20 Cost to Complete and Sell $1.92 1.20 1.68 1.62 1.68 0.96 1.44 1.80 From the information above, determine the amount of Oriole Company inventory.
Transcribed Image Text:Oriole Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. Quantity 1320 1333 1426 1437 1510 1522 1573 1626 1,600 1,300 1,200 1,400 1,100 900 3,400 1,400 Cost per Unit $3.84 3.24 5.40 4.32 2.70 3.60 2.16 5.64 Estimated Selling Price $5.40 4.08 6.00 3.84 3.90 4.68 3.00 The amount of Oriole Company's inventory 7.20 Cost to Complete and Sell $1.92 1.20 1.68 1.62 1.68 0.96 1.44 1.80 From the information above, determine the amount of Oriole Company inventory.
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