hello guys, I need detailed info with this
Net realizable value calculation | |||||
Product | A | B | C | D | E |
Cost a | 40 | 80 | 40 | 100 | 20 |
Selling Price 1 | 60 | 100 | 80 | 130 | 30 |
less sales commission 10% of selling price 2 | 6 | 10 | 8 | 13 | 3 |
less shipping cost 5% of cost 3 | 2 | 4 | 2 | 5 | 1 |
Net realizable value = 1-(2+3) b | 52 | 86 | 70 | 112 | 26 |
Lower of cost and NRV | 40 | 80 | 40 | 100 | 20 |
Net realizable value is Sale price minus all expenses to actualize the sale. In this case, sales commission and shipping cost are necessary expenses to make sale happen so they will deducted out of sale price to calculate net realizable value.
Lower of cost and net realizable value is given too.
hello guys, I need detailed info with this 498 SECTION 2 Assets The inventory of Royal Decking consisted of five pro...
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: 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: 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, 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, 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, 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...
PLEASE GIVE SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! The Inventory of Royal Decking consisted of five products. Information about the December 31, 2021, Inventory is as follows: Product Cost $120 160 Per Unit Selling Price $140 180 160 120 80 UW 80 20 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...
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 UnitProductCostReplacement CostSelling PriceA$60$55$80B10090120C6075100D12090150E404850Selling 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....