Problem 12-2 (AICPA Adapted) Prime Company manufactures and sells four products, the inventories of which are priced at cost or net realizable value whichever is lower. A normal profit of 30% is usually maintained on each product. The following information is compiled at year-end: Original Cost to Estimated Normal Product cost dispose selling price selling price 700 150 800 700 475 205 950 950 3 255 50 300 350 450 260 1,000 900 Required: 2 Determine the unit value for each product applying the lower of cost and net realizable value in measuring inventory. 348