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1 2 3 4 5 Cost $7.90 $10.90 $11.70 $6.35 $7.45 Net realizable value 8.90 10.00 13.45 5.10 6.80 Net realizable value less normal profit
1 | 2 | 3 | 4 | 5 | ||||||
Cost | $7.90 | $10.90 | $11.70 | $6.35 | $7.45 | |||||
Net realizable value | 8.90 | 10.00 | 13.45 | 5.10 | 6.80 | |||||
Net realizable value less normal profit | 8.25 | 9.10 | 11.20 | 3.55 | 6.20 | |||||
Market replacement cost | 8.00 | 10.10 | 13.75 | 4.85 | 5.60 |
Determine the proper unit inventory price in the above independent cases by applying the lower of cost or market rule.
Case 1 | $ | |
Case 2 | $ | |
Case 3 | $ | |
Case 4 | $ | |
Case 5 | $ |
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