Data related to the inventories of Ponce Medical Supply are presented below: Surgical Surgical Rehab Rehab Equipment Supplies Equipment Supplies Selling price $ 260 $ 120 $ 340 $ 165 Cost 170 90 250 162 Replacement cost 240 80 235 158 Costs to sell 30 5 25 10 Normal gross profit ratio 30 % 30 % 30 % 20 % In applying the lower of cost or market rule, the inventory would be valued at for: 1. Surgical Equipment 2. Surgical Supplies 3. Rehab Equipment 4. Rehab Supplies

Data related to the inventories of Ponce Medical Supply are presented below: Surgical Surgical Rehab Rehab Equipment Supplies Equipment Supplies Selling price $ 260 $ 120 $ 340 $ 165 Cost 170 90 250 162 Replacement cost 240 80 235 158 Costs to sell 30 5 25 10 Normal gross profit ratio 30% 30% 30% 20% In applying the lower of cost or market rule, the inventory would be valued at for: 1. Surgical Equipment 2. Surgical Supplies 3. Rehab Equipment 4. Rehab Supplies