Question 10 Presented below is information related to Sage Inc.'s inventory, assuming Sage uses lower-of-LIFO cost-or-market. (per unit) Historical cost Selling price Cost to distribute Current replacement cost Normal profit margin Skis $273.60 305.28 27.36 292.32 46.08 Boots $152.64 208.80 11.52 151.20 41.76 Parkas $76.32 106.20 3.60 73.44 30.60 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 amounts (c) The market amount that should be used to value parkas on the basis of the lower-of-cost-or-market. The market amount