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Novell's Nursery has developed the following data in order to calculate the lower of cost...

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Accounting

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Novell's Nursery has developed the following data in order to calculate the lower of cost or het realitzable value for its products. The individual products are listed within the categories of trees Selling Broad leaf trees Ash 51.920 51.620 Beech 2,350 1,720 Needle leaf trees Cedar 52.740 51,870 FI 3.100 1.470 Fruit trees Apple 51.920 11.5.20 Cherry 2,40 1.920 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 Cou Cost NAV Ash Beech Cedar Fur Apple Cherry 5 Inventory value

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