Problem 9-1 Lower of cost and net realizable value [LO9-1 Decker Company has five products in its inventory. Information about the December 31, 2016, inventory follows Unit Selling Unit Product Quantity Cost Price $20 20 1,150 950 800 400 800 $13 19 4 7 16 6 14 The cost to sell for each product consists of a 15 percent sales commission Required: 1. Determine the book value of inventory at December 31, 2016, assuming the lower of cost and net realizable value rule is applied to individual products Inventory Value Product Cost NRV units A (1,150) B(950) C (800) D (400) E (800) 0