Question: Current Attempt in Progress Presented below is information related to Blossom Inc's inventory, assuming Blossom uses lower-of-LIFO cost-or-market. Determine the following: (a) The two limits

Current Attempt in Progress Presented below is information related to Blossom Inc's inventory, assuming Blossom uses lower-of-LIFO cost-or-market. Determine the following: (a) The two limits to market value (lie, 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, es. 52.75.) (b) The cost amount that should be used in the lower-of-cost-or-market comparison of boots, (Round onswer to 2 decimal places, eg. 52.75.) (c) The market amount that should be used to value parkas on the basis of the lower-of-cost-or-market. (Round answer to 2 declmal places, eg. 52.75.)
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