Selling price Cost Skis $197,000 136,500 88,700 20% 30% Apparel $137,000 98,500 127,000 20% 25% Boots $ $167,000 141,500 147,000 20% 30% Replacement cost Sales commission Normal gross profit ratio Supplies $77,000 56,500 67,000 20% 25% In applying the lower of cost or market rule, the inventory of skis would be valued at: Multiple Choice 0 $92,500 0 $98,500 0 $100,500 O $157,600