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Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $162,000 146,000 120,000 10% Boots $162,000 139,000 111,000 10% Apparel $119,000 77,350 97,350 10% Supplies $70,000 45,500 41,500 10% In applying the lower of cost or net realizable value rule, the inventory of supplies would be valued at: Multiple Choice $41,500. $42,500. $45,500. $63,000