Data related to the inventories of Alpine Ski Equipment and Supplies is presented below. Selling price Cost Replacement cost Sales commission Skis $174,000 138,000 134,000 10% Boots $166,000 142,000 120,000 10% Apparel $101,000 65,650 85,650 10% Supplies $ 66,000 46,200 42,200 10% In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at: Multiple Choice $113,100 $138,000 $156,600 $134.000