E9.3B (L0 1) (LCNRV) Sunshine Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profi t A 1,200 $8.10 $8.00 $9.00 $0.35 $0.90 B 600 6.00 5.60 6.00 0.45 0.50 C 200 5.50 5.00 7.00 0.40 1.00 D 700 7.25 7.50 8.00 0.50 0.90 E 1,000 2.10 2.00 2.80 0.65 0.20 F 500 4.05 4.00 5.00 0.40 0.75 G 2,000 8.75 8.15 9.00 0.60 0.50 H 300 9.95 9.00 10.50 0.30 1.00 Instructions From the information above, determine the amount of Sunshine Company inventory using the LCNRV method. determine the amount of Sunshine Company inventory using the LCM method.

E9.3B (L0 1) (LCNRV) Sunshine Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. Quantity Cost per Unit Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profi t A 1,200 $8.10 $8.00 $9.00 $0.35 $0.90 B 600 6.00 5.60 6.00 0.45 0.50 C 200 5.50 5.00 7.00 0.40 1.00 D 700 7.25 7.50 8.00 0.50 0.90 E 1,000 2.10 2.00 2.80 0.65 0.20 F 500 4.05 4.00 5.00 0.40 0.75 G 2,000 8.75 8.15 9.00 0.60 0.50 H 300 9.95 9.00 10.50 0.30 1.00 Instructions From the information above, determine the amount of Sunshine Company inventory using the LCNRV method. determine the amount of Sunshine Company inventory using the LCM method.

Name: E9.3B (L0 1) (LCNRV) Sunshine Company follows the practice of pricing
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Description: E9.3B (L0 1) (LCNRV) Sunshine Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis.Item No.QuantityCost per UnitCost to ReplaceEstimatedSelling PriceCost of Completion and DisposalNormalProfi tA1,200$8.10$8.00$9

Survey of Accounting (Accounting I)

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Chapter6: Receivables And Inventories

Section: Chapter Questions

Problem 6.19E: Inventory on the balance sheet Based on thy data in Exercise 6-18 and assuming that cost was...

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determine the amount of Sunshine Company inventory using the LCNRV method.
determine the amount of Sunshine Company inventory using the LCM method.

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Inventory on the balance sheet Based on thy data in Exercise 6-18 and assuming that cost was determined by the FIR0 method, show how the inventory would appear on the balance sheet.
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Sunland Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item No. Quantity Costper Unit EstimatedSelling Price Cost to Completeand Sell 1320 1,700 $3.62 $5.09 $1.81 1333 1,400 3.05 3.84 1.13 1426 1,300 5.09 5.65 1.58 1437 1,500 4.07 3.62 1.53 1510 1,200 2.54 3.67 1.58 1522 1,000 3.39 4.41 0.90 1573 3,500 2.03 2.83 1.36 1626 1,500 5.31 6.78 1.70 From the information above, determine the amount of Sunland Company inventory.

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Item No.	Quantity	Cost per Unit	Cost to Replace	Estimated Selling Price	Cost of Completion and Disposal	Normal Profi t
A	1,200	$8.10	$8.00	$9.00	$0.35	$0.90
B	600	6.00	5.60	6.00	0.45	0.50
C	200	5.50	5.00	7.00	0.40	1.00
D	700	7.25	7.50	8.00	0.50	0.90
E	1,000	2.10	2.00	2.80	0.65	0.20
F	500	4.05	4.00	5.00	0.40	0.75
G	2,000	8.75	8.15	9.00	0.60	0.50
H	300	9.95	9.00	10.50	0.30	1.00