The inventory of Royal Decking consisted of five products. Information about ending inventory is as...
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Accounting
The inventory of Royal Decking consisted of five products. Information about ending inventory is as follows: Selling costs consist of a sales commission equal to 10% of selling price and shipping costs equal to 5% of cost. The normal profit is 30% of selling price. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or market (LCM) rule to units of ending inventory
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