Selling price Cost Skis $182,000 Data related to the inventories of Mountain Ski Equipment and Supplies is presented below. Supplies $62,000 Boots $152,000 Apparel $122,000 129,000 134,000 91,000 49,000 36 Replacement cost 81,900 132,000 112,000 52,000 Sales commission 208 20% 208 208 Normal gross profit ratio. 30% 308 258 258 In applying the lower of cost or market rule, the inventory of skis would be valued at: Multiple Choice $85,000. $91,000. $145,600