ACC - xercise 9-2 Riegel Company

Exercise 9-2
Riegel Company uses the lower-of-cost-or-market method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2013, 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 $222 $204 $176 $167 $204 $167
Cost 139 148 148 148 93 67
Replacement cost 222 133 130 56 130 56
Estimated selling expense 56 56 65 65 56 56
Normal profit 37 37 37 37 37 37

Using the lower-of-cost-or-market rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2013, for each of the inventory items above.