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Nina [5.8K]
3 years ago
9

Given the acquisition cost of product Z is $43, the net realizable value for product Z is $37, the normal profit for product Z i

s $2, and the market value (replacement cost) for product Z is $38, what is the proper per unit inventory value for product Z applying LCM? $37. $35. $38. $43.
Business
1 answer:
Gnom [1K]3 years ago
7 0

Answer:

proper per unit inventory value for product Z applying LCM is $38

Explanation:

given data

cost of product Z  = $43

net realizable value product Z = $37

normal profit for product Z = $2

market value product Z = $38

solution

first we get here difference between Net realizable value and  profit that is

Net realizable value - normal profit

= $37  - $2

= $35

so here now we get proper per unit inventory is

proper per unit inventory = lower of cost or market value

so here market value product Z is lower so

proper per unit inventory value for product Z applying LCM is $38

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