Green Gardens, Co. has developed the following information to calculate the lower of cost or net realizable value for its products. The individual products are listed within the categories of trees. Selling Cost Price Broad leaf trees: Ash $1,720 $1,660 Beech 2,560 1,560 Needle leaf trees: Cedar $2,980 $1,710 Fir 3,000 3,310 Fruit trees: Apple $2,040 $1,360 Cherry 2,660 1,760 The costs to sell are 10% of selling price. Required: Determine the reported inventory value assuming the lower of cost or net realizable value rule is applied to individual trees. Product Cost NRV Lower of Cost or NRV Ash Beech Cedar Cherry 2,660 1,760 The costs to sell are 10% of selling price. Required: Determine the reported inventory value assuming the lower of cost or net realizable value rule is applied to individual trees. Product Cost NRV Lower of Cost or NRV Ash Beech Cedar Fir Apple Cherry Inventory value EJ