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ox File Edit View History Bookmarks T Tools Window Help $ 49% Tue 2:41 AM Q 0 Files WP Ch 9: Homework C Get Homework Help With Che X + @ A https://learn.wileyplus.com/courses/28197/assignments/2679248?module_item_id=9129597 ...V X Wiley Accounting Weekly Updates Question 7 --/1 Student Practice and View Policies Solutions Manual Current Attempt in Progress Wiley CPAexcel Continued Access Presented below is information related to Oriole Inc's inventory, assuming Oriole uses lower-of-LIFO cost-or-market. Discussions (per unit) Skis Boots Parkas Conferences Historical cost $266.00 $148.40 $74.20 Collaborations Selling price 296.80 203.00 103.25 WileyPLUS Support Cost to distribute 6.60 11.20 3.50 Current replacement cost 284.20 147.00 71.40 Normal profit margin 44.80 40.60 29.75 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. (Round answers to 2 decimal places, e.g. 52.75.) Ceiling Limit $ Floor Limit $ 29 808 FA FS -2 F6 44 II FB 4) 41)) FY O delete 4 5 P W. K enter Kpry Bookmarks Tools Window Help 49% Tue 2:42 AM Q WP Ch 9: Homework X Get Homework Help With Che X + https://learn.wileyplus.com/courses/28197/assignments/2679248?module_item_id=9129597 -.. J (b) The amount that should be used in the lower-of-cost-or-market comparison of boots. (Round answers to 2 decimal places, e.s. 52.75.) $ (c) The amount that should be used to value parkas on the basis of the lower-of-cost-or-market. (Round answers to 2 decimal places, e.g. 52.75.) eTextbook and Media Attempts: 0 of 3 used Save for Later Submit Answer Send to Gradebook