The inventory of Royal Decking consisted of five products. Information about the December 31, 2011, inventory is

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The inventory of Royal Decking consisted of five products. Information about the December 31, 2011, inventory is as follows:

Disposal costs consist only of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. The normal gross profit percentage is 30% of selling price.

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What unit value should Royal Decking use for each of its products when applying the LCM rule to units of inventory?

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Intermediate Accounting

ISBN: 978-0077400163

6th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Question Posted: Jul 02, 2013 05:55 AM

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The inventory of Royal Decking consisted of five products. Information about the December 31, 2011, inventory is

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Intermediate Accounting

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