Answer: The cost of the wallet is $60.
Step-by-step explanation: Mr. Wong spent a total of $176 on a jacket, a belt, and a wallet.
The wallet was $31 more expensive than the belt, and the jacket's price was three times that of the belt.
We need to determine the wallet's price.
Let x, y, and z denote the costs of the jacket, belt, and wallet, respectively.
Thus, based on the information given, we derive

Substituting the values of z and x from equations (ii) and (iii) into equation (i) yields

From equation (ii), we determine

Consequently, the wallet's price is $60.