George Orwell Animal Feeds has developed the following data to calculate lower of cost or market for its animal feed products. The individual products are listed individually below: Cattle Horse Cat Dog Ferret Iguana Selling Price $320 400 $360 120 $140 70 Cost to Cost Replace $160 $170 400 325 $320 $280 90 40 $112 $98 48 21 The disposal costs are 20% of the selling price and the normal profit margin on all feed is 25% of the selling price. Required: Determine the reported inventory value assuming the lower of cost or market rule is applied to individual animal feed products