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 $1,730 $1,580 Beech 2,680 1,480 Needle leaf trees: Cedar $3,140 $1,630 Fir 3,250 3,230 Fruit trees: Apple $2,120 $1,280 Cherry 2,780 1,680 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. Product Cont NRV Lower of Cost or NRV Ash Beech Cedar Fir Apple Cherry Inventory value