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Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Selling price Cost Replacement cost Sales commission Skis $172,000 138,000 134,000 10% Boots $155,000 135,000 119,000 10% Apparel $101,000 70,700 90,700 10% Supplies $71,000 46,150 42,150 10% In applying the lower of cost or net realizable value rule, the inventory of skis would be valued at: Multiple Choice $154,800. $138,000. O o oo $134,000. $120,400