(3) Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Skis Boots Apparel Supplies Selling price $ 170,000 $ 148,000 $ 112,000 $ 78,000 Cost 130,000 143,000 78,400 54,600 Replacement cost 114,000 119,000 98,400 50,600 Sales commission 10 % 10 % 10 % 10 % In applying the lower of cost or net realizable value rule, the total inventory would be valued at______