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 using

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

Cases
1 2 3 4 5
Cost $15.90 $14.00 $16.10 $16.30 $15.60
Sales value 16.40 19.20 14.20 10.10 20.20
Estimated cost to complete 1.60 1.60 1.52 0.80 1.00
Estimated cost to sell 0.50 0.80 0.49 0.40 0.60

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Managerial Accounting 14th Edition by McGraw Hill Education