Closing inventory information for Priory Gallery is displayed below. Complete the table by calculating the NRV of each item and comparing this with the cost in order to calculate the total value of each product line. A E 44 Cost Selling price Sales commission Number of units in stock NRV Total value of product line E £ £ (Enter the values with no E sign, comma or decimal places) 87 B E 88 123 49 220 7 320 C £ 140 277 72 120

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.