Q4. Pinkel Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2011, consists of products D and E, Relavant per-unit data for these products appear below.

ItemItem

DE

Estimated selling price180165

Cost110120

Cost to complete4545

Selling costs1527

Instructions

Using the LCNRV rule, determine the proper unit value for statement of financial position reporting purposes at December 31, 2011, for each of the inventory items above. [2 marks]