Riegel Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below.

Using the LCNRV rule, determine the proper unit value for statement of financial position reporting purposes at December 31, 2020, for each of the inventory items above.

Transcribed Image Text:

Items Н Estimated selling price $95 $120 75 $110 $90 80 $110 50 $90 36 Cost Cost to complete Selling costs 80 80 25 35 30 20 30 30 18 10 10 20 10 10