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Determine the amount of flounder company inventory

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Question - Flounder 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

$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

4.5

4

1.69

1510

800

2.81

4.06

1.75

1522

600

3.75

4.88

1

1573

3,100

2.25

3.13

1.5

1626

1,100

5.88

7.5

1.88

From the information above, determine the amount of Flounder Company inventory.

Reference no: EM131749409

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