The inventory of Royal Decking consisted of five products. Information about the December 31, 2021,...
70.2K
Verified Solution
Link Copied!
Question
Accounting
The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Product B Cost $.49 89 40 100 29 Per Unit Replacement Cost 544 79 64 79 37 Selling Price 5.69 109 89 139 39 D Selling costs consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost The normal profit is 20% 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 NRV NRV - NP Market Cost Per Unit Inventory Value Product $ $ $ B 19 89 49 D 24 79 64 79 37 109 E 29
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.