Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $164,000 137,000 111,000 10% Boots $156, 000 140,000 123,000 10% Apparel $101, 000 70, 700 90, 700 10% Supplies $73, 000 47, 450 43, 450 10% In applying the lower of cost or net realizable value rule, the inventory of supplies would be valued at