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Check my work Herman Company has three products in its ending inventory. Specific per unit...

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Accounting

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Check my work 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: Product 1 Product 3 Cost Replacement cost Selling price Selling costs Normal profit $ 31 29 51 8 16 Product 2 $101 96 131 30 41 $ 61 51 65 9 23 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? Product NRV NRV - NP Market 1 Cost Replacement cost $ 31 s 29 101 96 61 51 $ 62 Per Unit Inventory Value $ 30 91 61 2 91 3 82

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