137500 is not correct !!

Data related to the inventories of Mountain Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Normal gross profit ratio Skis $199,000 137,500 107,500 15% 25% Boots $169,000 142,500 149,000 15% 25% Apparel $139,000 99,500 129,000 15% 20% Supplies $79,000 57,500 69,000 15% 20% In applying the lower of cost or market rule, the inventory of skis would be valued at