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Determine the proper unit value for statement

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Problem - Pinkel Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2011, consists of products D and E, Relavant per-unit data for these products appear below.

                                            Item                Item         

                                            D                   E                            

Estimated selling price            €180               €165              

Cost                                      110                 120              

Cost to complete                    45                   45              

Selling costs                          15                   27              

Instructions - Using the LCNRV rule, determine the proper unit value for statement of financial position reporting purposes at December 31, 2011, for each of the inventory items above.

Reference no: EM131749292

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