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

	Skis				Boots				Apparel				Supplies
Selling price	$	182,000			$	152,000			$	122,000			$	62,000
Cost		129,000				134,000				91,000				49,000
Replacement cost		122,000				130,200				112,000				52,000
Sales commission		20	%			10	%			20	%			20	%
Normal gross profit ratio		30	%			30	%			25	%			25	%

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

Multiple Choice

• $136,800.

• $134,000.

• $130,200.

• $91,200.