Steven Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis.
Item No.
Quantity
Cost
per Unit
Estimated
Selling Price
Cost to Complete
and Sell
1320
1,300
$3.74
$5.27
$1.87
1333
1,000
3.16
3.98
1.17
1426
900
5.27
5.85
1.64
1437
1,100
4.21
3.74
1.58
1510
800
2.63
3.80
1.64
1522
600
3.51
4.56
0.94
1573
3,100
2.11
2.93
1.40
1626
1,100
5.50
7.02
1.76
From the information above, determine the amount of Steven Company inventory.
Can you please attach the answer with your workings. Thanks.
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