Applying the lcm rule to ending inventory

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Reference no: EM13139659

Herman Company has three products in its ending inventory. Specific per unit data for each of the products are as follows:

Product 1 Product 2 Product 3

cost $20 $90 $50
replacement cost $18 $85 $40
selling price $40 $120 $70
disposal costs $6 $40 $10
normal profit margin $5 $30 $12

Required-What unit values should Herman use for each of its products when applying the LCM rule to ending inventory?

Reference no: EM13139659

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