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Herman Company has three products in its ending inventory. Specific per unit data for each of the products are as follows:
Product 1 Product 2 Product 3
cost $20 $90 $50replacement cost $18 $85 $40 selling price $40 $120 $70disposal costs $6 $40 $10normal profit margin $5 $30 $12
Required-What unit values should Herman use for each of its products when applying the LCM rule to ending inventory?
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