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Financial And Managerial Accounting
15th Edition
ISBN: 9781337902663
Author: WARREN, Carl S.
Publisher: Cengage Learning,
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Financial Account
![Question:Financial Account - 23-69
Sheridan Company follows the practice of pricing its
inventory at LCNRV, on an individual-item basis.
Quantit Cost per
Item
Estimated Selling
No.
y
Unit
Price
Cost to Complete and
Sell
1320
1,300
$4.00
$5.63
$2.00
1333
1,000
3.38
4.25
1.25
1426
900
5.63
6.25
1.75
1437
1,100
4.50
4.00
1.69
1510
800
2.81
4.06
1.75
1522
600
3.75
4.88
1.00
1573
3,100
2.25
3.13
1.50
1623
1,100
5.88
7.50
1.88
From the information above, determine the amount of
Sheridan Company inventory
The amount of Sheridan Company's inventory $](https://content.bartleby.com/qna-images/question/21a87144-a2ad-491a-bba2-da477c64d6e0/7ff99165-7428-4131-9b01-a693bc5964f3/fl2wwnp_thumbnail.jpeg)
Transcribed Image Text:Question:Financial Account - 23-69
Sheridan Company follows the practice of pricing its
inventory at LCNRV, on an individual-item basis.
Quantit Cost per
Item
Estimated Selling
No.
y
Unit
Price
Cost to Complete and
Sell
1320
1,300
$4.00
$5.63
$2.00
1333
1,000
3.38
4.25
1.25
1426
900
5.63
6.25
1.75
1437
1,100
4.50
4.00
1.69
1510
800
2.81
4.06
1.75
1522
600
3.75
4.88
1.00
1573
3,100
2.25
3.13
1.50
1623
1,100
5.88
7.50
1.88
From the information above, determine the amount of
Sheridan Company inventory
The amount of Sheridan Company's inventory $
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