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Question - The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows:
Product
Per Unit
Cost
Selling Price
A
$70
$90
B
110
130
C
70
D
100
E
30
40
Costs to sell consist of a sales commission equal to 20% of selling price and shipping costs equal to 10% of cost.
Required - What unit value should Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to units of ending inventory?
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