Brief Exercise 9-4 Presented below is information related to Metlock Inc.s inventory, assuming Metlock uses lower-of-LIFO cost-or-market. (per unit) Skis Boots Parkas Historical cost $247.00 $137.80 $68.90 Selling price 275.60 188.50 95.88 Cost to distribute 24.70 10.40 3.25 Current replacement cost 263.90 136.50 66.30 Normal profit margin 41.60 37.70 27.63 Determine the following: (a) The two limits to market value (i.e., the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. Ceiling Limit $ Floor Limit $ (b) The cost amount that should be used in the lower-of-cost-or-market comparison of boots. The cost amount $ (c) The market amount that should be used to value parkas on the basis of the lower-of-cost-or-market. The market amount $