Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $166,000 144,000 119,000 10% Boots $150,000 133,000 113,000 10% Apparel $107,000 69,550 89,550 10% Supplies $79,000 55,300 51,300 10% In applying the lower of cost or net realizable value rule, the inventory of supplies would be valued at: Multiple Choice $52,300. $51,300. $55,300. O $71,100