Novelll'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 Broad leaf trees: $1,880 Cost Price $1,980 2,470 1,780 Ash Beech Needle leaf trees: Cedar Fir Fruit trees: Apple Cherry $2,860 4,050 $1,930 3,530 $1,980 2,570 $1,580 1,980 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 categories of trees. Cost NRV Lower of Cost or NRV Product Ash Beech Broad leaf trees Cedar Fir Needle leaf trees Apple Cherry Fruit trees Inventory value