The Proof below does not actually fulfill the OP's question.
I believe this problem requires two applications of the AM-GM inequality.
First, $\frac{a+b+c+d}{4} \geq (abcd)^{1/4}$. This simplifies to $1 \geq (abcd)$ which is equivalent to $\frac {4}{abcd} \geq 4$. Equality occurs at $a=b=c=d=1$.
Secondly, if we apply the inequality to the right hand side of the expected result we obtain $\frac{(a/b)+(b/c)+(c/d)+(d/a)}{4} \geq [(a/b)(b/c)(c/d)(d/a)]^{1/4}$. The terms on the right side of this inequality cancel to one and we can multiply both sides by $4$ to obtain $(a/b)+(b/c)+(c/d)+(d/a)\geq 4$. Again, equality occurs at $a=b=c=d=1$.
$\frac {abcd}{4} \leq 1$ because the product $abcd \leq 1$ . $(a/b)+(b/c)+(c/d)+(d/a) \geq 1$.
Thus,
$\frac {abcd}{4} \leq (a/b)+(b/c)+(c/d)+(d/a)$
Which is not the desired result.