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E9-2 (L01) (LCNRV) Riegel Company uses the LCNRV method, on an individual-item basis, in pricing...

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Accounting

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E9-2 (L01) (LCNRV) Riegel Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below. Item D $120 $110 $95 $90 $110 $90 80 80 50 Estimated selling price Cost Cost to complete Selling costs 35 30 18 30 10 Instructions Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2017, for each of the inventorv items above

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