Business, 09.11.2020 02:00 luhmama

Royal Decking has five products in its inventory. Information about the December 31, 2021 inventory is below: Product Cost Sales Price
A $40 $60
B 80 100
C 40 80
D 100 130
E 20 30

A) Selling costs include a sales commission equal to 20% of selling price and shipping costs equal 10% of cost. What per unit value should Royal Decking use for each of its products when applying LCNRV?
B) If Royal has 1,000 units of each product, what should total inventory be on the balance sheet if the company applies LCNRV at the product level?

Answers: 2

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Royal Decking has five products in its inventory. Information about the December 31, 2021 inventory...

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