Question: solve for part c Presented below is information related to Coronado Inc's inventory, assuming Coronado uses lower-of-LIFO cost-or-market. Determine the following: (a) The two limits
solve for part c
Presented below is information related to Coronado Inc's inventory, assuming Coronado 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, eg. 52.75.) Ceiling 5 Floor S (b) The cost amount that should be used in the lower-of-cost-or-market comparison of boots. (Round arswer to 2 decimal places es. 5275.1 5 (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 decimel ploces ey. 52.75j
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