The inventory of Weck's consisted of five products. Information about the December 31, 2021, inventory is...

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The inventory of Weck's consisted of five products. Information about the December 31, 2021, inventory is as follows: Per Unit Replacement Cost Product Cost Selling Price A $80 $70 $120 B 160 140 200 C 80 110 160 D 200 140 260 E 40 56 60 Selling costs consist of a sales commission equal to 20% of selling price and shipping costs equal to 10% of cost. The normal profit is 60% of selling price. What unit value should Weck's use for each of its products when applying the lower of cost or market (LCM) rule to units of ending inventory? The inventory of Weck's consisted of five products. Information about the December 31, 2021, inventory is as follows: Per Unit Replacement Cost Product Cost Selling Price A $80 $70 $120 B 160 140 200 C 80 110 160 D 200 140 260 E 40 56 60 Selling costs consist of a sales commission equal to 20% of selling price and shipping costs equal to 10% of cost. The normal profit is 60% of selling price. What unit value should Weck's use for each of its products when applying the lower of cost or market (LCM) rule to units of ending inventory?

Answer rating: 100% (QA)

Soluti Calculation of unit value by applying the lower of cost or market LCM method B E H 1 Pe... View the full answer