Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $177,000 136,000 117,000 Boots $140,000 140,000 123,000 Apparel $116,000 75,400 95, 400 10% Supplies $71,000 46,150 42,150 10% 10% 10% In applying the lower of cost or net realizable value rule, the inventory of boots would be valued at: Multiple Choice O $126,000. O $140,000 O $91,000. O $123,000