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 $192,000 134,000 132,000 10% 20% Boots $162,000 139,000 131,200 10% 20% Apparel $132,000 96,000 122,000 10% 15% Supplies $72,000 54,000 62,000 10% 15% . In applying the lower of cost or market rule, the inventory of supplies would be valued at Multiple Choice 5590 564 800 562.000 $54.000