Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $174,000 138,000 130,000 10% Boots $153,000 138,000 128,000 10% Apparel $111,000 72,150 92,150 108 Supplies $73,000 51,100 47,100 108 In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at