Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $163, 000 139,000 135,000 10% Boots $165,000 142,000 123,000 10% Apparel $118,000 82,600 102,600 10% Supplies $75,000 48, 750 44, 750 10% In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at