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 lower of cost or net realizable value (LCNRV)
rule to units of ending inventory?
|
Hi
Let me know in case any issue and query:
NRV = Selling price - Disposal or selling cost
The inventory of Royal Decking consisted of five products. Information about the December 31, 2018, inventory...
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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...
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