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Problem V Les Corporation has two products in its ending inventory, each accounted for at the lower of cost or market. A profit margin of
Problem V Les Corporation has two products in its ending inventory, each accounted for at the lower of cost or market. A profit margin of 30% on selling price is considered normal for each product. Specific data with respect to each product follows: Product #A Product #B Historical cost $10 S 18 Replacement cost 12 16 Estimated cost to dispose 4 6 Estimated selling price 20 33 In pricing its ending inventory using the lower of cost or market, calculate the unit values, rounded to the nearest dollar, or products #A and #B
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