DEI sells auto racing memorabilia, focusing on four different products. Current inventory information is shown below:

Product Quantity Unit Cost Replacement Cost per unit Price per unit

A 5000 $8 $14 $20

B 2000 $20 $18 $24

C 1000 $5 $4 $10

D 500 $50 $30 $75

To sell each unit of inventory, DEI incurs a 10% sales commission. Normal profit is assumed to be 25% for each product.

• Using the excel template, build a table to be used in determining lower of cost or market inventory valuation at the product level. Fill in the blank cells for inventory value using LCM at the product level and at the aggregate level (all products taken together). Be sure to use formulas when practicable to do so.

Cost Replacement Cost NRV NRV-NPM Market LCM TOTAL Inventory value using LCM at the product level Inventory value using LCM at the aggregate level