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 $ 1,860   $ 1,760   Beech   2,290     1,660   Needle leaf trees:             Cedar $ 2,620   $ 1,810   Fir   3,450     3,410   Fruit trees:             Apple $ 1,860   $ 1,460   Cherry   2,390     1,860       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.       Product Cost NRV Lower of Cost or NRV Ash       Beech       Cedar       Fir       Apple       Cherry       Inventory value

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