Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Skis $171,000 Boots $161,000 Apparel $115,000 Supplies $65,000 Cost 131,000 137,000 Replacement cost 115,000 112,000 80,500 100,500 42,250 38,250 Sales commission 10% 10% 10% 10% In applying the lower of cost or net realizable value rule, the inventory of supplies would be valued at: Multiple Choice $42,250. $39,250. $38,250. $58,500