Sh1Please help me. Thankyou. Herman Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the products areas follows:CostReplacement costSelling priceSelling costsNormal profitProduct123$CostProduct 1$ 211941Required:What unit values should Herman use for each of its products when applying the lower of cost or market (LCM) rule to endinginventory?Replacementcost21 $915166198641Product 2$ 91861214031NRVProduct 3$ 514160913NRV - NPMarketPer UnitInventoryValue

Name: Sh1Please help me. Thankyou. Herman Company has three products in its
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Sh1Please help me. Thankyou. Herman Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the products areas follows:CostReplacement costSelling priceSelling costsNormal profitProduct123$CostPro

According to accounting standard, Inventory is value at lower of cost or market. NRV :— It is the…

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Herman 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 Product 1 $ 21 Required: What unit values should Herman use for each of its products when applying the lower of cost or market (LCM) rule to ending inventory? Replacement cost 21 $ 91 51 19 41 6 6 19 86 41 Product 2 $ 91 86 NRV 121 40 31 Product 3 $ 51 41 60 9 13 NRV - NP Market Per Unit Inventory Value