The ledger of American Company has the following work in process account. Work in Process—Painting 5/1 Balance 3,690 5/31 Transferred out ? 5/31 Materials 5,740 5/31 Labor 2,682 5/31 Overhead 2,480 5/31 Balance ? Production records show that there were 400 units in the beginning inventory, 30% complete, 1,700 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,240 and conversion costs of $1,450. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.

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How did lani lazzari show her investors she was a good investment? (site 1)

On january 2, well co. purchased 10% of rea, inc.’s outstanding common shares for $400,000, which equaled the carrying amount and the fair value of the interest purchased in rea’s net assets. well did not elect the fair value option. because well is the largest single shareholder in rea, and well’s officers are a majority on rea’s board of directors, well exercises significant influence over rea. rea reported net income of $500,000 for the year and paid dividends of $150,000. in its december 31 balance sheet, what amount should well report as investment in rea?