Data related to the inventories of Mountain Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Normal gross profit ratio Skis $191,000 133,500 86,000 20% 30% Boots $161,000 138,500 141,000 20% 30% Apparel $131,000 95,500 121,000 20% 25% Supplies $71,000 53,500 61,000 20% 25% In applying the lower of cost or market rule, the inventory of skis would be valued at: Multiple Choice O $97,500 $95,500. O $152,800