Data related to the inventories of Alpine Ski Equipment and Supplies is presented below:

	Skis				Boots				Apparel				Supplies
Selling price	$	164,000			$	159,000			$	103,000			$	68,000
Cost		144,000				141,000				72,100				47,600
Replacement cost		111,000				130,000				118,000				43,600
Sales commission		10	%			10	%			10	%			10	%

In applying the lower of cost or net realizable value rule, the inventory of apparel would be valued at:

Multiple Choice

• $95,320.

• $118,000.

• $72,100.

• $92,700.