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 $ 1,920 $ 1,820 Beech 2,380 1,720 Needle leaf trees: Cedar $ 2,740 $ 1,870 Fir 3,900 3,470 Fruit trees: Apple $ 1,920 $ 1,520 Cherry 2,480 1,920 The costs to sell are 10% of selling price.