ABC maintains its engine inventory by the LIFO method. Below is data related to your inventory:

Sale price $305

cost 215

Replacement cost 285

Cost of selling 48

Gross profit rate 30%

When applying the rule The lesser of cost and market (LCM), this will be valued by:

Select one:

a. $166.

b. $215.

c. $285.

d. $257.