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 | $ | 200 | $ | 220 | |||||
B | 240 | 260 | |||||||
C | 120 | 240 | |||||||
D | 160 | 300 | |||||||
E | 100 | 140 | |||||||
Costs to sell consist of a sales commission equal to 10% of selling
price and shipping costs equal to 5% 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?
|
The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as foll...
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 $190 $210 230 250 170 230 150 240 E 100 130 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...
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 $ 90 $ 110 B 130 150 C 90 130 D 55 85 E 20 30 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...
The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Per UnitProductCostSelling PriceA$160$180B200220C110200D120200E80100Costs 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?
The inventory of Royal Decking consisted of five products. Information about the December 31, 2018, inventory is as follows: Product Cost $ 230 270 150 210 130 Per Unit Selling Price $250 290 270 370 170 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...
The inventory of Royal Decking consisted of five products. Information about the December 31, 2018, inventory is as follows: Per Unit Product Cost Selling Price A $ 120 $ 140 B 160 180 C 80 160 D 80 120 E 20 40 Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. Required: What unit value should Royal Decking use for each of its products when applying the...
The inventory of Royal Decking consisted of five products. Information about the December 31, 2018, inventory is as follows Per Unit Product Cost Selling Price $ 80 $ 60 100 A 120 c 60 60 100 D 90 20 30 Costs to sell consist of a sales commission equal to 10 % of selling price and shipping costs equal to 5% of cost Required: What unit value should Royal Decking use for each of its products when applying the lower...
The inventory of Royal Decking consisted of five products. Information about the December 31, 2018, inventory is as follows: Product Cost $100 140 100 80 20 Per Unit Selling Price $120 160 140 110 40 Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% 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...
The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Product Cost $ 59 Per Unit Replacement Cost $ 54 Selling Price $ 79 119 99 89 поопP 99 59 119 39 74 89 47 149 49 Selling costs consist of a sales commission equal to 15% of selling price and shipping costs equal to 5% of cost. The normal profit is 25% of selling price. Required: What unit value should...
The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Per Unit Selling Price $ 74 Replacement Cost 49 Product Cost $54 A 94 84 114 C 54 69 94 114 84 144 E 34 42 44 Selling costs consist of a sales commission equal to 15% of selling price and shipping costs equal to 5% of cost. The normal profit is 35% of selling price. Required: What unit value should...
The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Product Cost $ 48 88 Per Unit Replacement Cost $ 43 78 63 Selling Price $ 68 108 48 88 Uw 108 28 138 38 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 40% of selling price. Required: What unit value should Royal Decking...