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The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Product A B Cost $ 58
The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Product A B Cost $ 58 Per Unit Replacement Cost $ 53 98 Imow Selling Price $ 78 118 98 148 48 58 118 0 38 Selling costs consist of a sales commission equal to 15% of selling price and shipping costs equal to 5% of cost. The normal profit is 40% 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? (Do not round intermediate calculations. Round final answers to 2 decimal places.) Product Cost Replacement cost NRV NRV - NP Market Per Unit Inventory Value $ A B 58 $ 988 53 88 58 73 118 38 46
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