Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $176,000 133,000 110,000 10% Boots $161,000 133,000 113,000 10% Apparel $117,000 81,900 111,000 Supplies $80,000 52,000 48,000 10% 10% In applying the lower of cost and net realizable value rule, the inventory of apparel would be valued at: Multiple Choice $81,900. $105,300. $110,580. $111,000