Question

# Bridgeport Company follows the practice of pricing its inventory at LCNRV, on an individual-item basis. Item...

Bridgeport 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 \$3.49 \$4.91 \$1.74 1333 1,000 2.94 3.71 1.09 1426 900 4.91 5.45 1.53 1437 1,100 3.92 3.49 1.47 1510 800 2.45 3.54 1.53 1522 600 3.27 4.25 0.87 1573 3,100 1.96 2.73 1.31 1626 1,100 5.12 6.54 1.64

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

 The amount of Bridgeport Company’s inventory ?

 NRV = Selling price - Cost to complete and sell Item No. Quantity Cost S.P(A) C to Comp. and Sell(B) NRV(A-B) L of C or NRV Units * LCNRV 1320 1,300 3.49 4.91 1.74 3.17 3.17 4121 1333 1,000 2.94 3.71 1.09 2.62 2.62 2620 1426 900 4.91 5.45 1.53 3.92 3.92 3528 1437 1,100 3.92 3.49 1.47 2.02 2.02 2222 1510 800 2.45 3.54 1.53 2.01 2.01 1608 1522 600 3.27 4.25 0.87 3.38 3.27 1962 1573 3,100 1.96 2.73 1.31 1.42 1.42 4402 1626 1,100 5.12 6.54 1.64 4.9 4.9 5390 25853 Therefore ending inventory = \$25,853