Decker Company has five products in its inventory. Information about the December 31, 2018, inventory...
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Decker Company has five products in its inventory. Information about the December 31, 2018, inventory follows. Unit Unit Selling Product Quantity Cost Price 1,250 $ 23 1,050 29 32 13 850 450 1 850 28 27 The cost to sell for each product consists of a 10 percent sales commission. Required 1. Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or net realizable value (L applied to individual products. 2a. Determine the carrying value of inventory at December 31, 2018, assuming the LCNRV rule is applied to the entire inventory 2b. Assuming the inventory write-downs are usual business practice for Decker, record any necessary year-end CNRV) rule is Complete this question by entering your answers in the tabs below
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