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

Skis Boots Apparel Supplies

Selling price

$ 178,000 $ 170,000 $ 101,000 $ 64,000

Cost

135,000 138,000 65,650 41,600

Replacement Cost

115,000 118,000 85,650 37,600

Sales commission

10% 10% 10% 10%

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

Multiple Choice

$57,600.

$37,600.

$38,600.

$41,600.