The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Per Unit Selling Price $ 70 110 90 140 Cost $ 50 Replacement Cost $ 45 Product 08 65 B 90 50 D. 110 80 E 30 38 40 Selling costs consist of a sales commission equal to 15% of selling price and shipping costs equal to 5% of cost. The normal profit is 30% of selling price. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or market (LCM) rule to units of ending inventory? (Do not round Intermediate calculations. Round final answers to 2 decimal places.) Replacement cost Per Unit Inventory Value Product Cost NRV NRV - NP Market %24 50 $ 45 $ 57.00 B 90 80 50.00 C 50 65 110 80 30.00 E 30 38
The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Per Unit Selling Price $ 70 110 90 140 Cost $ 50 Replacement Cost $ 45 Product 08 65 B 90 50 D. 110 80 E 30 38 40 Selling costs consist of a sales commission equal to 15% of selling price and shipping costs equal to 5% of cost. The normal profit is 30% of selling price. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or market (LCM) rule to units of ending inventory? (Do not round Intermediate calculations. Round final answers to 2 decimal places.) Replacement cost Per Unit Inventory Value Product Cost NRV NRV - NP Market %24 50 $ 45 $ 57.00 B 90 80 50.00 C 50 65 110 80 30.00 E 30 38
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The Inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows:
Per Unit
Replacement Cost
$ 45
Selling Price
$70
110
Preduct
Cost
A
$50
08
65
90
50
90
C
D.
110
80
140
30
38
40
Selling costs consist of a sales commission equal to 15% of selling price and shipping costs equal to 5% of cost. The normal profit is
30% of selling price.
Required:
What unit value should Royal Decking use for each of its products when applying the lower of cost or market (LCM) rule to units of
ending inventory? (Do not round Internediate calculations. Round final answers to 2 decimal places.)
Replacement
cost
Per Unit
Inventory
Value
Product
Cost
NRV
NRV -NP
Market
50 S
45
57.00
90
80
50.00
C.
50
65
110
80
30.00
30
38
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