In some instances, accounting principles require a departure from valuing inventories at cost alone. Determine the proper unit inventory price in the following cases.
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Cases |
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1 |
2 |
3 |
4 |
5 |
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|
Cost |
$15.90 |
$16.10 |
$15.90 |
$15.90 |
$15.90 |
|
Net realizable value |
14.5 |
19.2 |
15.2 |
10.4 |
16.4 |
|
Net realizable value less normal profit |
12.8 |
17.6 |
13.75 |
8.8 |
14.8 |
|
Market (replacement cost) |
14.8 |
17.2 |
12.8 |
9.7 |
16.8 |