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

	Skis	Boots	Apparel	Supplies
Selling price	$180,000	$140,000	$120,000	$60,000
Cost	128,000	133,000	90,000	45,000
Replacement cost	120,000	130,000	110,000	41,000
Sales commission	10%	10%	10%	10%

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

$41,000.

$60,000.

$45,000.

$54,000.