Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission skis $166,000 135,000 115,000 Boots $143,000 144,000 122,000 10% Apparel $100,000 66,950 86,950 10% Supplies $70,000 45,500 41,500 10% 10% In applying the lower of cost or net realizable value rule, the inventory of boots would be valued at: Multiple Choice $92,950. $144,000. $128,700. $122,000