Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $166,000 145,000 117,000 10% Boots $151,000 141,000 113,000 10% Apparel $107,000 69,550 114,000 10% Supplies $63.000 40,950 36,950 10% In applying the lower of cost and net realizable value rule, the inventory of apparel would be valued at: Multiple Choice o $96,300 $114,000 $69,550 $98,810