Question: In some instances, accounting principles require a departure from valuing inventories at cost alone. Determine the proper unit inventory price in the following cases, under

In some instances, accounting principles require a departure from valuing inventories at cost alone. Determine the proper unit inventory price in the following cases, under the lower-of-cost-or-market rule. (Round answers to 2 decimal places, e.g. 52.75.) Cases 1 2 33 5 $13.60 $14.40 $14.50 $16.90 $15.60 Cost Net realizable value 19.50 13.30 11.70 15.60 15.90 Net realizable value less normal profit 13.70 18.00 11.96 9.90 14.20 Market (replacement cost) 13.90 19.00 12.40 10.20 17.30 Cases 1 2 3 4 5 Unit inventory price $
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