The Inventory of Royal Decking consisted of five products. Information about December 31, 2016, inventory is as follows: Per Unit Product Cost Selling Price A $ 120 $ 140 B 170 180 C 80 160 D 80 120 E 20 40 Costs to sell consist only of a sales commission equal to 10% of the selling price and shipping costs equal to 5% of the cost. What unit value should Royal Decking use for each of its products when applying the lower cost and net realizable value rule to units of inventory?

The Inventory of Royal Decking consisted of five products. Information about December 31, 2016, inventory is as follows: Per Unit Product Cost Selling Price A $ 120 $ 140 B 170 180 C 80 160 D 80 120 E 20 40 Costs to sell consist only of a sales commission equal to 10% of the selling price and shipping costs equal to 5% of the cost. What unit value should Royal Decking use for each of its products when applying the lower cost and net realizable value rule to units of inventory?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 15E: Habicht Company was formed in 2018 to produce a single product. The production and sales for the...

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The inventory of Royal Decking consisted of five products. Information about the December 31, 2016, inventory is as follows: Per Unit TTT Product Selling Price Cost $ 40 $ 60 90 100 40 80 100 130 20 30 Costs to sell consist only of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost and net realiz- able value rule to units of inventory?
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Sub. Financial Account
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The inventory of Royal Decking consisted of five products. Information about ending inventory is as follows: Product A B C D E Product A Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to units of ending inventory? BUDE Cost $ 180 220 160 140 90 C Per Unit Selling Price $ 200 240 220 240 125 Cost NRV Per Unit Inventory Value