Han Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the products are as follows: Cost Replacement cost Selling price Selling costs Normal profit Product 1 2 3 Cost $ 888 Required: What unit values should Han use for each of its products when applying the lower of cost or market (LCM) rule to ending inventory? 20 90 50 Product 1 5:20 18 40 $ 6 5 Replacement cost Product 2 $50 85 120 40 18 $ 85 40 30 NRV Product 3 $:50 40 70 10 12 NRV minus NP 34 S 80✔ 60 Market Per Unit Inventory Value 29 S 34 S 50- 48 80✔✔ 60 x 201 80 48

Han Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the products are as follows: Cost Replacement cost Selling price Selling costs Normal profit Product 1 2 3 Cost $ 888 Required: What unit values should Han use for each of its products when applying the lower of cost or market (LCM) rule to ending inventory? 20 90 50 Product 1 5:20 18 40 $ 6 5 Replacement cost Product 2 $50 85 120 40 18 $ 85 40 30 NRV Product 3 $:50 40 70 10 12 NRV minus NP 34 S 80✔ 60 Market Per Unit Inventory Value 29 S 34 S 50- 48 80✔✔ 60 x 201 80 48

Name: Please do not give solution in image format ? Han Company has three pr
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Description: Please do not give solution in image format ? Han Company has three products in its ending Inventory. Specific per unit data at the end of the year for each of the products are asfollows:CostReplacement costSelling priceSelling costsNormal profitProd

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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