Data related to the inventories of Alpine Ski Equipment and Supplies is presented below:

	Skis		Boots		Apparel		Supplies
Selling price	$	160,000			$	152,000			$	107,000			$	70,000
Cost		133,000				137,000				69,550				45,500
Replacement cost		120,000				113,000				116,000				41,500
Sales commission		10	%			10	%			10	%			10	%

In applying the lower of cost or net realizable value rule, the inventory of apparel would be valued at: