L View Policies Current Attempt in Progress Presented below is information related to Splish Inc's inventory, assuming Splish uses lower-of-LIFO cost-or-market. Historical cost Selling price Cost to distribute (per unit) Current replacement cost Normal profit margin Ceiling $ Floor $ $ $ Skis $281.20 eTextbook and Media 313.76 eTextbook 28.12 300.44 47.36 Boots $156.88 $78.44 214.60 11.84 155.40 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, e.g. 52.75.) Parkas 42.92 109.15 3.70 (b) The cost amount that should be used in the lower-of-cost-or-market comparison of boots. (Round answer to 2 decimal places, eg. 52.75.) 75.48 31.45 (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.) Assistance Used

Presented below is information related to Splish inc's inventory, assuming 5 plish uses lower-of-LIFO cost-or-market. Determine the followin: ta) The two limits to marloct value (ce, the ceiling and the floor) that should be used in the lower-of cost-or-marlot computation for slis. (Round anower to 2 decimal ploces, es, 52.75 .) Ceiling $ Floor (b) The cost amount that should be used in the lower-of-cost-or-market comparison of boots, (Round answer to 2 decinal ploces; es 5275J (c) The market amount that should be used to value parkas on the bath of the lower-of-cost - on market. Round anwwer to 2 decimai places es 5275J