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Presented below is information related to Ayayai Inc's inventory, assuming Ayayai uses lower-of-LIFO cost-or-market Boots $150.52 205.90 (per unit) Historical cost Selling price Cost to

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Presented below is information related to Ayayai Inc's inventory, assuming Ayayai uses lower-of-LIFO cost-or-market Boots $150.52 205.90 (per unit) Historical cost Selling price Cost to distribute Current replacement cost Normal profit margin Skis $269.80 301.04 26.98 288.26 45.44 Parkas $75.26 104.73 3.55 7242 30.18 11.36 149.10 41.18 Determine the following (a) The two limits to market value to the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis Celling Limit $ Floor Limit (b) The cost amount that should be used in the lower-of-cost-or market comparison of boots The cost amount S (c) The market amount that should be used to value parkas on the basis of the lower-of-cost-or-market. The market amount $

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