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Decker Company has five products in its inventory. Information about the December 31, 2016, inventory...

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Accounting

Decker Company has five products in its inventory. Information about the December 31, 2016, inventory follows.

Product Quantity Unit Cost Unit Selling Price
A 1,350 $ 17 $ 24
B 1,150 23 24
C 1,000 3 8
D 600 7 6
E 1,000 20 18

The cost to sell for each product consists of a 10 percent sales commission.

Required:
1.

Determine the book value of inventory at December 31, 2016, assuming the lower of cost and net realizable value rule is applied to individual products.

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