Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission skis $175,000 147,000 113,000 10% Boots $169,000 137,000 119,000 10% Apparel $114,000 74,100 118,000 10% Supplies $77,000 50,050 46,050 10% In applying the lower of cost or net realizable value rule, the inventory of apparel would be valued at: Multiple Choice $105,620. $102,600. $74,100. $118,000