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

	Skis	Boots	Apparel	Supplies
Selling price	$167,000	$166,000	$101,000	$73,000
Cost	138,000	136,000	65,650	47,450
Replacement cost	116,000	110,000	114,000	43,450
Sales commission	10%	10%	10%	10%
Normal gross profit ratio	25%	25%	25%	25%

In applying the LCM rule, the inventory of apparel would be valued at:

a)	$114,000.
b)	$92,630.
c)	$90,900.
d)	$65,650.