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	$	1,630		$	1,500
Beech		2,800			1,400
Needle leaf trees:
Cedar	$	3,300		$	1,550
Fir		3,050			3,150
Fruit trees:
Apple	$	2,200		$	1,200
Cherry		2,900			1,600

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.