Data related to the inventories of Markos' New Age Apothecary are presented below:

	Magical				Magical						Magical						Magical
	Equipment				Supplies						Herbs						Spices
Selling price	$	260			$	120				$		340				$		165
Cost		170				90						250						162
Replacement cost		240				80						235						158
Costs to sell		30				5						25						10
Normal gross profit ratio		30	%			30	%					30	%					20	%

In applying the lower of cost or market rule, the inventory of magical equipment would be valued at:

(a) $0;

(b) $230;

(c) $240;

(d) $170; or

(e) $152.