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 PriceCost

Broad leaf trees:

Ash$ 1,710 $ 1,600

Beech 2,650 1,500

Needle leaf trees:

Cedar$ 3,100 $ 1,650

Fir 3,300 3,250

Fruit trees:

Apple$ 2,100 $1,300

Cherry 2,750 1,700

The costs to sell are 10% of the selling price. Required:

Determine the reported inventory value assuming the lower of cost or net realizable value rule is applied to individual trees.