Novelli's Nursery has developed the following data in order to calculate the lower of cost or net realizable value for its products. The individual products are listed within the categories of trees.

	Selling Price			Cost
Broad leaf trees:
Ash	$	1,800		$	1,700
Beech		2,200			1,600
Needle leaf trees:
Cedar	$	2,500		$	1,750
Fir		3,600			3,350
Fruit trees:
Apple	$	1,800		$	1,400
Cherry		2,300			1,800

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.