Presented below is information related to Sweet Inc.s inventory, assuming Sweet uses lower-of-LIFO cost-or-market. (per unit) Skis Boots Parkas Historical cost $262.20 $146.28 $73.14 Selling price 292.56 200.10 101.78 Cost to distribute 26.22 11.04 3.45 Current replacement cost 280.14 144.90 70.38 Normal profit margin 44.16 40.02 29.33 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 $