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 Cases 1 2 3 4 5 Cost $13 90 $17 80 $17 40 $16 80 $17 20 Net realizable value 15 50 17 20 14 30 11 30 18 40 Net realizable value less normal profit 13 60 15 80 12 70 9 90 16 80 Market (replacement cost) 12 80 15 80 12 50 8 40 17 40

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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.

	Cases
	1	2	3	4	5
Cost	$13.90	$17.80	$17.40	$16.80	$17.20
Net realizable value	15.50	17.20	14.30	11.30	18.40
Net realizable value less normal profit	13.60	15.80	12.70	9.90	16.80
Market (replacement cost)	12.80	15.80	12.50	8.40	17.40

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