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Determine the proper unit value for balance sheet

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Question - Concord Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2017, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below.

Item D Item E Item F Item G Item H Item I
Estimated selling price $125 $114 $99 $94 $114 $94
Cost 78 83 83 83 52 37
Cost to complete 31 31 26 36 31 31
Selling costs 10 19 10 21 10 21

Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2017, for each of the inventory items above.

Reference no: EM131728354

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