Tamarisk company uses the lcnrv method, on an individual-item basis, in pricing its inventory items. the inventory at december 31, 2020, 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 $140 $129 $111 $105 $129 $105 cost 88 94 94 94 59 42 cost to complete 35 35 29 41 35 35 selling costs 12 21 12 23 12 23 using the lcnrv rule, determine the proper unit value for balance sheet reporting purposes at december 31, 2020, for each of the inventory items above.

See explanation section

Explanation:

Give

The cost value for each of the inventory item is as follows:

Product           Cost Price

D                        $88

E                        $94

F                        $94

G                        $94

H                        $59

I                          $42

Now, we determine the net realizable value for each of the product:

Net Realizable Value = Selling price - Cost to compete - Selling costs

Product           Net Realizable Value

D                       $93

E                        $73

F                        $70

G                        $41

H                        $82

I                          $47

Now, using the LCNRV (Lower of cost or Net Realizable Value) rule, the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items -

Product           LCNRV

D                        $88

E                        $73

F                        $70

G                        $41

H                        $59

I                          $42

both are integral parts of a corporate balance sheet. the cash flow statement, or statement of cash flows, measures the sources of a company's cash and its uses of cash over a specific time period. the income statement measures a company's financial performance, such as revenues, expenses, profits or losses over a specific time period (in fact, it's sometimes called a statement of financial performance).

a cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. it captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting items such as depreciation and amortization. the cash flow generally comes from revenue received as a result of business activity, but it may be augmented by funds available as a result of credit. a cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors.