Current Attempt in Progress Presented below is information related to Waterway Inc's inventory, assuming Waterway uses lower-of-LIFO cost-or-market. Historical cost (per unit) Selling price Cost to distribute Current replacement cost Normal profit margin Determine the following: Ceiling Floor $ Skis $ $262.20 292.56 26.22 280.14 44.16 Boots $146.28 200.10 11.04 144.90 40.02 Parkas $73.14 101.78 (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, e.g. 52.75.) 3.45 70.38 29.33

Current Attempt in Progress Presented below is information related to Waterway Inc's inventory, assuming Waterway 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, es. 52.75.) Ceiling \$ Floor 5 (b) The cost amount that should be used in the lower-of-cost-or-market comparison of boots. (Round answer to 2 decimal places, es. 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 decimal places, eg. 52.75.) $