The December 31, 2020 inventory of Sunland Company consisted of four products, for which certain...
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Accounting
The December 31, 2020 inventory of Sunland Company consisted of four products, for which certain information is provided below.
Product
Original Cost
ReplacementCost
EstimatedDisposal Cost
ExpectedSelling Price
Normal Profiton Sales
A
$31.00
$29.00
$7.50
$41.00
25.00%
B
$43.00
$41.00
$10.00
$48.00
20.00%
C
$144.00
$139.00
$29.00
$210.00
20.00%
D
$17.00
$15.00
$6.00
$27.00
15.00%
Using the lower-of-cost-or-market approach applied on an individual-item basis, compute the inventory valuation that should be reported for each product on December 31, 2020. (Round answers to 2 decimal places, e.g. 52.75.)
Product
A __________________
B __________________
C __________________
D __________________
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