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I Have the right answers for Cost and Replacement cost. I can't find the answer for the rest. Thank you! The inventory of Royal Decking
I Have the right answers for Cost and Replacement cost. I can't find the answer for the rest. Thank you!
The inventory of Royal Decking consisted of five products. Information about the December 31, 2018, inventory is as follows: Product Cost Per Unit Replacement Cost $ 37 $ 42 72 MUA Selling Price $ 62 102 82 132 42 57 102 Selling costs consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. The normal gross profit percentage is 20% of selling price. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or market (LCM) rule to units of ending inventory? (Do not round intermediate calculations. Round final answers to 2 decimal places.) nces Product Cost Replacement cost NRV NRV - NP Per Unit Market Inventory Value $ 18.80 $ $ 37 $ 18.80 A B 721 42 82 42 102 22 57 55.80 68.70 33.70 85.70 18.20 72 E 30Step by Step Solution
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