Han Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the products are as follows: Cost Selling price Costs to sell Product 1 Product 2 Product 3 $ 25 $ 55 55 Product 1 2 3 5 $95 135 50 Required: What unit values should Han use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to ending inventory? Cost NRV 85 15 Per Unit Inventory Value
Han Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the products are as follows: Cost Selling price Costs to sell Product 1 Product 2 Product 3 $ 25 $ 55 55 Product 1 2 3 5 $95 135 50 Required: What unit values should Han use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to ending inventory? Cost NRV 85 15 Per Unit Inventory Value
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
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