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What unit value royal decking use for each of its product

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Question - The inventory of Royal Decking consisted of five products. Information about the December 31, 2018, inventory is as follows:

Product

Per Unit

Cost

Replacement Cost

Selling Price

A

$51

$46

$71

B

91

81

111

C

51

66

91

D

111

81

141

E

31

39

41

Selling costs consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. The normal gross profit percentage is 35% 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?

Reference no: EM131813300

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