Tariq uses periodic system, FIFO cost flow.

12. Riegel Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2019, consists of products D, E, F, G, and H. Relevant per-unit data for these products appear below.

Item D E F G H

Estimated selling price 125 115 85 95 100

Cost 77 82 70 50 55

Cost to complete 30 30 25 35 30

Selling costs 10 18 10 20 10

Instructions: Using the LCNRV rule, determine the proper unit value for statement of financial position reporting purposes at December 31, 2019, for each of the inventory items above.