Data related to the inventories of Alpine Ski Equipment and Supplies is presented below. Selling price Cost Replacement cost Sales commission Skis $176,000 133,000 111,000 10% Boots $166,000 136,000 116,000 10% Apparel $118,000 82,600 102,600 10% Supplies $76,000 49,400 45,400 10% In applying the lower of cost or net realizable value rule, the inventory of supplies would be valued at