Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $165,000 143,000 113,000 10% Boots $154,000 137,000 110,000 10% Apparel $107,000 69,550 112,000 10% Supplies $62,000 40,300 36,300 10% In applying the lower of cost and net realizable value rule, the inventory of apparel would be valued at: Multiple Choice $96,300. $99,010. $112,000. $69,550