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1 Exerclse 9-2 (Algo) Lower of cost or net reallzable value [LO9-1] The inventory of Royal Decking consisted of five products. Information about ending inventory
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Exerclse 9-2 (Algo) Lower of cost or net reallzable value [LO9-1] The inventory of Royal Decking consisted of five products. Information about ending inventory is as follows: Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) rula to units of ending inventory? Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. Required: What unit value shouid Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) nule to units of ending inventory Step by Step Solution
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