The following information relates to Babcock Bicyle Company's inventory as of December $31,20$x$2$:

$15"$ Frames $17"$ Frames $21"$ Frames Seats and chains

Selling price $ $171,000$ $ $157,000$ $ $105,000$ $ $69,000$

Cost $140,000138,00073,50048,300$

Replacement cost $132,000127,00093,50044,300$

Sales commission $10\%10\%10\%10\%$

Calculate the value at which Babcock should report their $15"$ frame bicycles using the lower of cost or net realizable value rule.