Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $173,000 141,000 114,000 10% Boots $152,000 138,000 114,000 10% Apparel $108,000 70,200 90,200 10% Supplies $ 64,000 41,600 37,600 10% In applying the lower of cost or net realizable value rule, the inventory of supplies would be valued at