Business, 23.06.2020 19:01 allykram7

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 Cost $ 31 $ 101 $ 61 Replacement cost 29 96 51 Selling price 51 131 65 Selling costs 8 30 9 Normal profit 16 41 23Required: What unit values should Herman use for each of its products when applying the lower of cost or market (LCM) rule to ending inventory?

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Herman Company has three products in its ending inventory. Specific per unit data at the end of the...

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