The inventory of Royal Decking consisted of five products. Information about ending inventory is as follows:...
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The inventory of Royal Decking consisted of five products. Information about ending inventory is as follows: Product A Cost $ 40 B 80 C 40 D Per Unit Selling Price $ 60 100 80 100 20 130 30 Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to units of ending inventory? Product Cost NRV Per Unit Inventory A B C D E Value The inventory of Royal Decking consisted of five products. Information about ending inventory is as follows: Product A Cost $ 40 B 80 C 40 D Per Unit Selling Price $ 60 100 80 100 20 130 30 Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to units of ending inventory? Product Cost NRV Per Unit Inventory A B C D E Value
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