MC Qu. 29 Data related to the inventories of Alpine...

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

	Skis				Boots				Apparel				Supplies
Selling price	$	180,000			$	152,000			$	107,000			$	75,000
Cost		143,000				135,000				74,900				48,750
Replacement cost		110,000				114,000				116,000				44,750
Sales commission		10	%			10	%			10	%			10	%

In applying the lower of cost or net realizable value rule, the inventory of apparel would be valued at:

Multiple Choice

• $74,900.

• $116,000.

• $99,680.

• $96,300.