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 $ 1BO $ 150 $ 120 $ 60 Cost 128 133 90 48 Replacement 120 30 110 50 cost Net Realizable 162 135 108 54 Value Normal gross 20% 20% 15% 15% profit ratio * Gross profit ratio is based on selling price In applying the lower of cost or morket, the floor for item 103 would be