Question Details

What unit values should Oslo use for products 



1.	Oslo Corporation has two products in its ending inventory, each accounted for at the lower of cost or market. Specific data with respect to each product follows:
	Product #1	Product #2
Selling price	$60	$130
Historical cost	40	70
Cost to sell	10	26
Cost to complete	15	40
In pricing its ending inventory using the lower-of-cost-or-net realizable value, what unit values should Oslo use for products #1 and #2, respectively?
a.	$35 and $64.
b.	$50 and $104.
c.	$40 and $70.
d.	$45 and $90.

	2.	Muckenthaler Company sells product 2005WSC for $25 per unit. The cost of one unit of 2005WSC is $18. The estimated cost to complete a unit is $4, and the estimated cost to sell is $6. At what amount per unit should product 2005WSC be reported, applying lower-of-cost-or-net realizable value?
a.	$20.
b.	$15.
c.	$18.
d.	$19.

3.	Lexington Company sells product 1976NLC for $45 per unit. The cost of one unit of 1976NLC is $36. The estimated cost to complete a unit is $8, and the estimated cost to sell is $5. At what amount per unit should product 1976NLC be reported, applying lower-of-cost-or-net realizable value?
a.	$36.
b.	$32.
c.	$37.
d.	$40.

	4.	Given the acquisition cost of product Z is $32, the cost to complete product Z is $9.00, the cost to sell product Z is $5, and the selling price for product Z is $50.00, what is the proper per unit inventory price for product Z?
a.	$32.
b.	$45.
c.	$36.
d.	$41.

	5.	Given the acquisition cost of product ALPHA is $85, the cost to complete product ALPHA is $8, the cost to sell product ALPHA is $6, and the selling price for product ALPHA is $97, what is the proper per unit inventory price for product ALPHA?
a.	$85.
b.	$83
c.	$79.
d.	$89.
	6.	Given the acquisition cost of product Dominoe is $86, the cost to complete for product Dominoe is $10, the cost to sell product Dominoe is $8, and the selling price for product Dominoe is $101, what is the proper per unit inventory price for product Dominoe?
a.	$91.
b.	$93.
c.	$83.
d.	$86.




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