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 2 Cost Product 1 $29 67 9 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? $ 29 99 CA x Answer is complete but not entirely correct. Per Unit Inventory Value NRV Product 2 $99 147 58 58 89 $ Product 3 $59 97 94 0 X (10) X 19 W

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: 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? Answer is complete but not entirely correct