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Herman Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the products are

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Herman Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the products are as follows: Cost Selling price Costs to sell Product 1 $25 55 5 Product 2 $ 95 135 50 Product $55 85 15 Required: What unit values should Herman use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to ending inventory? Product 1 Cost NRV Per Unit Inventory Value 5 25$ 25 s 25 95 86 05 55 541 45 2 3

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