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Presented below is information related to Skysong Inc's inventory, assuming Skysong uses lower-of-LIFO cost-or market (per unit) Skis Boots Parkas Historical cost $21280 $118.72 $59.36

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Presented below is information related to Skysong Inc's inventory, assuming Skysong uses lower-of-LIFO cost-or market (per unit) Skis Boots Parkas Historical cost $21280 $118.72 $59.36 Selling price 237.44 162.40 8260 Cost to distribute 21.28 8.96 2.80 Current replacement cost 22736 117.60 57.12 Normal profit margin 35.84 3248 23.80 Determine the following The two limits to market value the celling and the floor that should be used in the lower-of-cost or mario computation for skis (Round answers to 2 decimal places, 352.75) Celing Limit 5 Floor Limit $ Y (b) The amount that should be used in the lower-of-cost-or market comparison of boots. (Round answers to 2 decimal places, es. 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, es 52.75) $

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