Selling price Cost Replacement cost Sales commission Skis $179,000 138,000 131,000 10% Boots $162,000 141,000 115,000 10% Apparel $108,000 75,600 95,600 10% Supplies $63,000 40,950 36,950 10% In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at: Multiple Choice $116,350 $138,000 $131,000 $161,100