Selling Price			Cost
Broad leaf trees:
Ash	$	1,650		$	1,560
Beech		2,710			1,460
Needle leaf trees:
Cedar	$	3,180		$	1,610
Fir		3,200			3,210
Fruit trees:
Apple	$	2,140		$	1,260
Cherry		2,810			1,660

The costs to sell are 10% of selling price.

Required:

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