Herman Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the products are as follows: Product 1 Product 2 Product 3 Cost $ 21 $ 91 $ 51 Replacement cost 19 86 41 Selling price 41 121 60 Selling costs 6 40 9 Normal profit 6 31 13 Required: What unit values should Herman use for each of its products when applying the lower of cost or market (LCM) rule to ending inventory

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.