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What unit values should herman use

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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

Coat

$ 21

$ 91

$ 51

Replacement cost

19

86

41

Selling price

41

121

60

Selling coats

6

40

9

Normal profit

6

31

13

Required:

Question 1: What unit values should Herman use for each of Its products when applying the lower of cost or market (LCM) rule to ending inventory?

Reference no: EM132465914

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