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Metlock Company uses the LCM method, on an individual-item basis, in pricing its inventory items because it uses LIFO to value its inventory. The inventory at December 31, 2025, consists of products D, E, F, G, H, and I. Relevant per-unit data for these products appear below. Estimated selling price Cost Replacement cost Estimated selling expense Normal profit Item D Item E Item F Item G Item H Item I $ $ $ $ $ Item D $ $266 167 266 67 44 Item E $244 178 160 67 44 Item F $211 178 155 67 44 Item G $200 178 67 56 44 Item H Using the LCM rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2025, for each of the inventory items above. $244 111 155 67 44 Item I $200 80 67 67 44

Metlock Company uses the LCM method, on an individual-item basis, in pricing its inventory items because it uses LIFO to value its inventory. The inventory at December 31, 2025, consists of products D, E, F, G, H, and I. Relevant per-unit data for these products appear below. Estimated selling price Cost Replacement cost Estimated selling expense Normal profit Item D Item E Item F Item G Item H Item I $ $ $ $ $ Item D $ $266 167 266 67 44 Item E $244 178 160 67 44 Item F $211 178 155 67 44 Item G $200 178 67 56 44 Item H Using the LCM rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2025, for each of the inventory items above. $244 111 155 67 44 Item I $200 80 67 67 44

FINANCIAL ACCOUNTING
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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Metlock Company uses the LCM method, on an individual-item basis, in pricing its inventory items because it uses LIFO to value its inventory. The inventory at December 31, 2025, consists of products D, E, F, G, H, and I. Relevant per-unit data for these products appear below. Estimated selling price Cost Replacement cost Estimated selling expense Normal profit Item D Item E Item F Item G Item H Item I $ $ $ $ $ Item D $ $266 167 266 67 44 Item E $244 178 160 67 44 Item F $211 178 155 67 44 Item G $200 178 67 56 44 Item H Using the LCM rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2025, for each of the inventory items above. $244 111 155 67 44 Item I $200 80 67 67 44
Transcribed Image Text:Metlock Company uses the LCM method, on an individual-item basis, in pricing its inventory items because it uses LIFO to value its inventory. The inventory at December 31, 2025, consists of products D, E, F, G, H, and I. Relevant per-unit data for these products appear below. Estimated selling price Cost Replacement cost Estimated selling expense Normal profit Item D Item E Item F Item G Item H Item I $ $ $ $ $ Item D $ $266 167 266 67 44 Item E $244 178 160 67 44 Item F $211 178 155 67 44 Item G $200 178 67 56 44 Item H Using the LCM rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2025, for each of the inventory items above. $244 111 155 67 44 Item I $200 80 67 67 44
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