1. The problem involves understanding the unit price and quantities on hand and on the sales floor. 2. The unit price is given as $2.97, which means each item costs 2.97. 3. The quantities are 12 on hand and 14 on the sales floor. 4. To find the total value of items on hand, multiply the unit price by the quantity on hand: $$\text{Total on hand} = 2.97 \times 12 = 35.64$$ 5. To find the total value of items on the sales floor, multiply the unit price by the quantity on the sales floor: $$\text{Total on sales floor} = 2.97 \times 14 = 41.58$$ 6. These calculations help in inventory valuation and sales planning. Final answers: - Total value on hand: 35.64 - Total value on sales floor: 41.58