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.
Steven Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis.
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| 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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