Financial And Managerial Accounting
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 $
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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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