Determine the proper inventory price per unit in the following independent cases by applying the lower of cost or net realizable value rule (NRV). 1 2 3 4 5 Cost 80 105 120 60 72 Sales Value 100 130 160 65 80 Cost to complete 18 19 21 4 6 Cost to sell 7 10 12 2

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Determine the proper inventory price per unit in the following independent cases by applying the lower of cost or net realizable value rule (NRV).
1
2
3 4
5
Cost
80
105
120
60
72
Sales Value
100
130
160
65
80
Cost to complete
18
19
21
4
6
Cost to sell
7
10
12
2
Transcribed Image Text:Determine the proper inventory price per unit in the following independent cases by applying the lower of cost or net realizable value rule (NRV). 1 2 3 4 5 Cost 80 105 120 60 72 Sales Value 100 130 160 65 80 Cost to complete 18 19 21 4 6 Cost to sell 7 10 12 2
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