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 $2,180 $1,520 Beech 2,770 1,420 Needle leaf trees: Cedar $3,260 $1,578 Fir 4.550 3,170 Fruit trees: Apple $2,180 2,876 $1,228 1,620 Cherry 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 the total inventory Product Cost WRV Lower of Cost or NRV Ash Beech Certar Fin Apple Charry inventory $ 0 Inventory value