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Cost $6.90 $11.45 $11.65 $6.90 $8.05 Net realizable value 9.15 9.95 13.30 5.10 6.95 Net realizable value less normal profit 8.15 9.20 11.20 3.80 6.25
| Cost | $6.90 | $11.45 | $11.65 | $6.90 | $8.05 | |||||
| Net realizable value | 9.15 | 9.95 | 13.30 | 5.10 | 6.95 | |||||
| Net realizable value less normal profit | 8.15 | 9.20 | 11.20 | 3.80 | 6.25 | |||||
| Market replacement cost | 7.00 | 10.05 | 13.60 | 4.85 | 4.50 |
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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Government Auditing Standards 2011 Revision
Authors: U. S. Government Accountability Office, Comptroller General Of The United States
1st Edition
1482311372, 978-1482311372
