Question $23($Mandatory$)(4$ points$)$

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

$\backslash$table$[[,$Skis,Boots,Apparel,Supf$],[$Selling price,$$,$$$,$$$,$$$78,],[$Cost$,198,000,168,000,138,000,],[$Replacement cost$,137,000,142,000,99,000,57,],[$Sales commission,$138,000,131,800,128,000,68,],[$Normal gross profit,$10\%,10\%,10\%,],[$ratio$,20\%,20\%,15\%,],[,,,,]]$

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

$$142,000.$

$$151,200.$

$$117,600.$

$$131,800$