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X Ltd uses the LCNRV method, on an individual-item basis, in pricing its inventory items....

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Question

Accounting

X Ltd uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The

inventory at December 31, 2011, consists of products D, E and G, Relevant per-unit data for these

products appear below.

Required:

a. Calculate NRV (Net realizable value) for each item.

b. Determine unit value using the LCNRV rule.

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