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resented below is information related to Tamarisk Inc's inventory, assuming Tamarisk uses lower-of-LIFO cost-or-market. (per unit) Parkas $69.96 Historical cost Selling price Skis Boots $250.80
"resented below is information related to Tamarisk Inc's inventory, assuming Tamarisk uses lower-of-LIFO cost-or-market. (per unit) Parkas $69.96 Historical cost Selling price Skis Boots $250.80 $139.92 279.84 191.40 25.08 10.56 267.96 138.60 4224 38.28 Cost to distribute 97.35 3.30 67.32 28.05 Current replacement cost Normal profit margin Determine the following: (a) The two limits to market value live, the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. Ceiling Limits 254.76 Floor Limit 212.52 (1) 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.) (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, e8. 5
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