The inventory of Royal Decking consisted of five products Information about the December 31, 2021, inventory is as follows Per Unit Product Cost Selling Price A $ 160 $ 180 B 200 220 C 110 200 D 120 200 E 80 100 Costs to sell consist of a sales commission equal to 10 of selling price and shipping costs equal to 10 of cost Required What unit value should Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to units of ending inventory The inventory of Royal Decking consisted of five products Information about the December 31, 2021, inventory is as follows Product A B C Cost $160 200 110 120 80 Per Unit Selling Price $180 220 200 200 100 mo Costs to sell consist of a sales commission equal to 10 of selling price and shipping costs equal to 10 of cost Required What unit value should Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to units of ending inventory Product Cost NRV Per Unit Inventory Value B C D E

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 13, 2024

The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Per Unit Product Cost Selling Price

The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows:

	Per Unit
Product	Cost		Selling Price
A	$	160	$	180
B		200		220
C		110		200
D		120		200
E		80		100

Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 10% of cost. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to units of ending inventory?

image text in transcribed

The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Product A B C Cost $160 200 110 120 80 Per Unit Selling Price $180 220 200 200 100 mo Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 10% of cost. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to units of ending inventory? Product Cost NRV Per Unit Inventory Value B C D E