Novelli's Nursery has developed the following data for lower of cost and net realizable valuation for its products:

	Selling price	Cost
Broad leaf trees:
Ash	1800	1700
Beech	2200	1600
Needle lead trees:
Cedar	2500	1750
Fir	3600	3350
Fruit Trees:
Apple	1800	1400
Cherry	2300	1800

The costs to sell are 10% of selling price.

Required:

Determine the reported inventory value assuming the lower of cost and net realizable value rule is applied to individual trees..

Product	Cost	NRV	Lower of Cost and NRV
Ash
Beech
Cedar
Fir
Apple
Cherry
Inventory Value