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 $180,000 Boots $150,000 Apparel $120,000 Supplies $60,000 128,000 133,000 90,000 48,000 120,000 130,000 110,000 50,000 10% 10% 10% 10% 20% 20% 15% 15% In applying the lower of cost or market rule, the inventory of supplies would be valued at