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xWileyPLUS . > e-Secure I https://edugen.wileyplus.comVecugen/lti/main.uri Kieso, Intermediate Aciounng, 16e Hele I AsnL>Open Assignent RACK NEXT Your answer is incorrect. Try again. Larkspur Company uses the LCNRV method, on an indvidual-item basis, in pricing its inventory items. Ihe inventory at December 31, 201/, consists of products U, L, , H, and 1. Helevant per unit data for these products appear below Fstimatrd selling price S149 $135 $118 $117 $136 $117 93 45 31 43 37 Selling costs 12 12 25 12 25 llsing thr ICNRV rul, determine the proper unit value for alanc sheet reporting parposs at Decemher 31, 2017, for each of the inventory items ahavr Item D tem F Item Item G Iteim H sn 4.21.1.3 Type hee to search / 12/10/2017

Explanation / Answer

NRV = Selling price - Cost to complete - Selling costs

LCNRV = lower of cost or NRV

Selling price Cost to complete Selling costs NRV Cost LCNRV Item D 149 37 12 100 93 93 Item E 136 37 22 77 99 77 Item F 118 31 12 75 99 75 Item G 112 43 25 44 99 44 Item H 136 37 12 87 62 62 Item I 112 37 25 50 45 45

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