Business, 27.12.2020 16:20 484132604

Presented below is information related to Rembrandt Inc.â€™s inventory. (per unit) Skis Boots Parkas
Historical cost $190.00 $106.00 $53.00
Selling price 212.00 145.00 73.75
Cost to distribute 19.00 8.00 2.50
Current replacement cost 203.00 105.00 51.00
Normal profit margin 32.00 29.00 21.25
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.
Ceiling Limit $
Floor Limit $
(b) the cost amount that should be used in the lower-of-cost-or-market comparison of boots. The cost amount $
(c) the market amount that should be used to value parkas on the basis of the lower-of-cost-or-market. The market amount $

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Presented below is information related to Rembrandt Inc.â€™s inventory. (per unit) Skis Boots Parka...

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