Vaughn Company follows the practice of pricing its inventory at LCNRV, on an individual-itern basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,900 1,600 1,500 1,700 1,400 1,200 3,700 1,700 Cost per Unit $3.68 3.11 5.18 4.14 2.59 3.45 2.07 5.41 Estimated Selling Price $5.18 The amount of Vaughn Company's inventory 3.91 5.75 3.68 516 3.74 4.49 2.88 6.90 Cost to Complete and Sell $1.84 1.15 1.61 1.55 1.61 R 0.92 1.38 1.73 From the information above, determine the amount of Vaughn Company inventory. 42049

Vaughn Company follows the practice of pricing its inventory at LCNRV, on an individual-itern basis. Item No. 1320 1333 1426 1437 1510 1522 1573 1626 Quantity 1,900 1,600 1,500 1,700 1,400 1,200 3,700 1,700 Cost per Unit $3.68 3.11 5.18 4.14 2.59 3.45 2.07 5.41 Estimated Selling Price $5.18 The amount of Vaughn Company's inventory 3.91 5.75 3.68 516 3.74 4.49 2.88 6.90 Cost to Complete and Sell $1.84 1.15 1.61 1.55 1.61 R 0.92 1.38 1.73 From the information above, determine the amount of Vaughn Company inventory. 42049

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 2RE: Black Corporation uses the LIFO cost flow assumption. Each unit of its inventory has a net...

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