Check my work Forester Company has five products in its inventory. Information about the December 31, 2018, inventory follows. 3 Product Unit Cost $ 11 Unit Replacement Cost $13 12 Unit Selling Price $17 19 Quantity 900 500 900 600 700 points Uow GO Wiw eBook The cost to sell for each product consists of a 20 percent sales commission. The normal profit percentage for each product is 30 percent of the selling price. Print Required: 1. Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or market (LCM) rule is applied to individual products. 2a. Determine the carrying value of inventory at December 31, 2018, assuming the LCM rule is applied to the entire inventory 2b. Assuming inventory write-downs are usual business practice for Forester, record any necessary year-end adjusting entry. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 2B Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or market (LCM) rule is applied to individual products. (Do not round intermediate calculations.) RC NRV | NRV-NP Market Cost Inventory Value Product P (units) A (900) B (500) C (900) D (600) E (700) Total Complete this question by entering your answers in the tabs below. Req 1 Req 28 Reg 2B Reg 2B Determine the carrying value of inventory at December 31, 2018, assuming the LCM rule is applied to the entire inventory. (Do not round intermediate calculations.) Inventory carrying value Req 1 Req 2A Reg 2B Assuming the inventory write-downs are usual business practice for Forester, record any necessary year-end round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry req field.) View transaction list Journal entry worksheet Record any necessary year-end adjusting entry assuming that inventory write- downs are common for Forester Company. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal