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

	Skis	Boots	Apparel	Supplies
Selling price	$166,000	$161,000	$106,000	$72,000
Cost	128,000	138,000	68,900	46,800
Replacement cost	113,000	125,000	112,000	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:

Multiple Choice

• $97,980.

• $112,000.

• $95,400.

• $68,900.