Required-what unit values should herman use for each of its, Ask an Expert

Accounting

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?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9419840

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