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The inventory of Royal Decking consisted of five products. Information about ending inventory is as follows: Product Cost Per Unit Replacement Cost Selling Price
The inventory of Royal Decking consisted of five products. Information about ending inventory is as follows: Product Cost Per Unit Replacement Cost Selling Price TITY Selling costs consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. The normal profit is 25% of selling price. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or market (LCM) rule to units of ending inventory? Note: Do not round intermediate calculations. Round final answers to 2 decimal places. Product Cost Replacement cost A $ 46 $ 41 B 86 76 C 46 61 DE 106 76 26 34 NRV NRV minus NP Market Per Unit Inventory Value
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