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Vaughn 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
1,900
$3.68
$5.18
$1.84
1333
1,600
3.11
3.91
1.15
1426
1,500
5.18
5.75
1.61
1437
1,700
4.14
3.68
1.55
1510
1,400
2.59
3.74
1.61
1522
1,200
3.45
4.49
0.92
1573
3,700
2.07
2.88
1.38
1626
1,700
5.41
6.90
1.73
From the information above, determine...