! Required information Data related to the inventory items of Mountain Ski Equipment and Supplies is presented below: Item 100 Item 101 Item 102 Item 103 Selling price $ 180 $ 150 $ 120 $ 60 Cost 128 133 90 48 Replacement 120 130 110 50 cost Net Realizable 162 135 108 54 Value Normal gross 20% 20% profit ratio 15% 15% ** Gross profit ratio is based on selling price In applying the lower of cost or market, the celing for item 101 would be