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 $ 1,650 $ 1,560 Beech 2,710 1,460 Needle leaf trees: Cedar $ 3,180 $ 1,610 Fir 3,200 3,210 Fruit trees: Apple $ 2,140 $ 1,260 Cherry 2,810 1,660 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.