The inventory of Royal Decking consisted of five products. Information about the December 31, 2021,...
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Accounting
The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows:
Per Unit
Product
Cost
Selling Price
A
$
150
$
170
B
190
210
C
150
200
D
110
190
E
70
90
Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 10% 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?
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