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Question - Pharoah 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
1,600
$3.58
$5.04
$1.79
1333
1,300
3.02
3.81
1.12
1426
1,200
5.04
5.60
1.57
1437
1,400
4.03
3.58
1.51
1510
1,100
2.52
3.64
1522
900
3.36
4.37
0.90
1573
3,400
2.02
2.80
1.34
1626
5.26
6.72
1.68
From the information above, determine the amount of Pharoah Company inventory.
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