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Alona [7]
3 years ago
8

Given the acquisition cost of product z is $30, the net realizable value for product z is $27, the normal profit for product z i

s $1, and the market value (replacement cost) for product z is $24, what is the proper per unit inventory value for product z applying lcm?
Business
1 answer:
vitfil [10]3 years ago
5 0
Lcm requires to value inventory at the lower of acquisition cost or net realizable value.

Net realizable value = $27 - $1 = $26
Cost = $30

Therefore, it would be valued at $26
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Less Cost of Goods Sold

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Add Cost of Goods Manufactured

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Fixed selling and administrative expenses                                          (25,000)

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<em>Product Cost (Absorption Costing) = Direct Materials + Direct Labor + Variable Overhead + Fixed Overheads</em>

<em>Period Cost (Absorption Costing)  = All Non- Manufacturing Overheads</em>

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