Presented below is information related to Kingbird Inc.s inventory, assuming Kingbird uses lower-of-LIFO cost-or-market.

(per unit)		Skis		Boots		Parkas
Historical cost		$269.80		$150.52		$75.26
Selling price		301.04		205.90		104.73
Cost to distribute		26.98		11.36		3.55
Current replacement cost		288.26		149.10		72.42
Normal profit margin		45.44		41.18		30.18

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		$enter a dollar amount
Floor Limit		$enter a dollar amount

(b) The amount that should be used in the lower-of-cost-or-market comparison of boots. (Round answers to 2 decimal places, e.g. 52.75.)

$enter the cost amount that should be used in the lower-of-cost-or-market comparison of boots

(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.)

$enter the market amount that should be used to value parkas on the basis of the lower-of-cost-or-market