Novelli's Nursery has developed the following data for lower of cost or market for its products. The individual types of trees are separated as to their categories:

	Selling		Cost to
	Price	Cost	Replace
Ash	$1,800	$1,000	$800
Beech	2,200	1,600	1,400
Cedar	$2,500	$1,750	$1,800
Fir	3,600	3,350	3,200
Apple	$1,800	$1,400	$1,300
Cherry	2,300	1,800	1,700

The costs to sell are 10% of the selling price, and the normal profit margin on all trees is 20% of the selling price.

Required: Determine the reported inventory value assuming the lower of cost or market rule is applied to individual tree products.