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

Skis

Boots

Apparel

Supplies

Selling price

$

191,000

$

161,000

$

131,000

$

71,000

Cost

133,500

138,500

95,500

53,500

Replacement cost

131,000

131,100

121,000

61,000

Sales commission

20

%

20

%

20

%

10

%

Normal gross profit ratio

30

%

30

%

25

%

25

%

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

Multiple Choice

$46,150.

$63,900.

$61,000.

$53,500.