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

	Skis	Boots	Apparel	Supplies
Selling price	$178,000	$161,000	$113,000	$72,000
Cost	145,000	139,000	73,450	46,800
Replacement cost	112,000	127,000	117,000	42,800
Sales commission	10%	10%	10%	10%

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

$101,700.

$104,690.

$117,000.

$73,450.