Question

Need help as soon as possible please!!

per unit data for these products appear below. Item D Item E Item F Item G Item H Item I $142 $130 $112 $106 $130 106 59 42 35 35 12 24 94 35 35 30 1 12 21 Cost to complete 12 2 Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2017, for each of the inventory items above. ttem E s Item F s Item G ttem H s tem I s 5 6 8 9

Answer 1

Answer
	Proper unit value for each inventory item
	Item D	89
	Item E	74
	Item F	70
	Item G	41
	Item H	59
	Item I	42
	WORKINGS
	note:	LCNRV rule means lower of cost and net realizable value
	computaion of LCNRV
	ITEM	NRV	COST	LCNRV
	D	95	89	89
	E	74	94	74
	F	70	94	70
	G	41	94	41
	H	83	59	59
	I	47	42	42
	computation of NRV
				D	E	F	G	H	I
	Estimated selling price			142	130	112	106	130	106
	less: cost to complete			-35	-35	-30	-41	-35	-35
	less: selling costs			-12	-21	-12	-24	-12	-24
	NRV			95	74	70	41	83	47