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Presented below is information related to Whispering Inc.'s inventory, assuming Whispering uses lower-of-LIFO cost-or-market. Determine the following: (a) The two limits to market value (i.e.

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Presented below is information related to Whispering Inc.'s inventory, assuming Whispering uses lower-of-LIFO cost-or-market. 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, ess, 52.75) (b) The amount that should be used in the lower-of-cost-or-market comparison of boots. (Round answers to 2 decimal places, eg. 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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