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21 Novelll's Nursery has developed the following data in order to calculate the lower of cost or net realizable value fom Individual products are listed within the categorles of trees. Selling Price Cost 11 points $2,000 2,500 $1,900 1,800 Broad leaf trees: Ash Beech Needle leaf trees Cedar Fir Pruit trees: Apple Cherry $2,900 3,100 $1,950 3,550 Skipped $2,000 2,600 $1,600 2,000 Book 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 indivic Cost NRV Lower of Cost or NRV Product Ash Beech Cedar Fir Apple Cherry Inventory value $ 21 of 30