Answered

Westonci.ca is the premier destination for reliable answers to your questions, brought to you by a community of experts. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

Herman 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: Product 1 Product 2 Product 3 Cost $ 35 $ 105 $ 65 Selling price 85 165 115 Costs to sell 8 70 25 Required: What unit values should Herman use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to ending inventory

Sagot :

Tundexi

Answer:

                     Cost   Selling Price   Costs to Sell   NRV  Inventory value

                        A              B                      C           D=(B-C) E=(lowerof A&D)

Product 1        35            85                    8                 77              35

Product 2       105          165                  70                95             95

Product 3        65           115                   25               90              65

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.