Determine the proper inventory price per unit in the following independent cases by applying the lower of cost or net realizable value rule (NRV). 1 2 5 Cost 180 105 120 60 72 Sales Value 100 130 160 65 80 Cost to complete 18 19 21 4. 6 Cost to sell 7 10 112 2 5 Answer: 1 4 5 23 105 120 60 Cost 180 72 Sales Value 100 130 160 65 80 Cost to complete 18 19 21 14 6 Cost to sell 7 10 12 2 5 INRV Doran Realty Company purchased a plot of ground for P800,000 and spent P2, 100, 000 in developing it for building lots. The lots were classified into Highland, Midland, and Lowland grades, to sell at P100,000, P75, 000, and P50,000 each, respectively. 0 Complete the table below to allocate the cost of the lots using a relative sales value method. Grade No. of Lots Selling Price Total Revenue % of Total Sales Apportioned Cost Total Per Lot O 20 | Highland Midland Lowland 140 100 Total 160