Question

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 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.) Product Cost Replacement cost NRV NRV - NP Market Per Unit Inventory Value

Answer 1

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FCDDF000 - Microsoft Excel - 9 X Review View Custom Eg Copy Con = Home Insert Page Layout Formulas Data Cut Comic Sans MS-11 - AA Paste Format Painter B I U - -A E Clipboard Font E12 fic A Wrap Text Merge & Center - - 8:09 AutoSum" AY - Insert Delete Format F EF P. % 1 Conditional Format Formatting as Table Styles , Cell Styles 2 Clear Sort & Filter Editing Find & Select Alignment Number Cells BC к 4 Product Cost $ 48,00 $ 88,00 $ 48.00 $108.00 $ 28,00 Replacement Cost NRV $ 43.00 $ 58.80 $ 78.00 $ 92.80 $ 63.00 $ 76.80 $ 78.00 $118.80 $ 36.00 $ 32.80 NRV - NP Market Per Unit Inventory Value $ 31.60 $43.00 $ 43.00 $ 49.60 $ 78.00 $ 78.00 $ 41.60 $63.00 $ 48.00 $ 63.60 $78.00 $ 78.00 $ 17.60 $32.80 $ 28.00 E 12 13 Note : 14 Market - Middle of Replacement Cost, NRV NRV-NP 15 Per Unit Inventory Value: Lower of Cost or Market 16 NRV = Selling price - Commission - Shipping Costs 17 K 22 23 M Ready Sheet159 Sheet158 Sheet160 Sheet161 Sheet162 Sheet164 Sheet165 Sheet166 Sheet167 Februar 3O 100% 0 + O Type here to search A 3 22:44 4* 24-02-2020 a o