Forest Company has five products in its inventory. Information about ending inventory follows.

Product Quantity Unit Cost Unit Replacement Cost Unit Selling Price

A $900$ $ $23$ $ $25$ $ $29$

B $500282431$

C $700161521$

D $1,000201719$

E $700272526$

The cost to sell for each product consists of a $15$ percent sales commission. The normal profit for each product is $35$ percent of the selling price.

Required:

Determine the carrying value of ending inventory, assuming the lower of cost or market $($LCM$)$ rule is applied to individual products.

Determine the carrying value of inventory, assuming the LCM rule is applied to the entire inventory.

Assuming inventory write$-$downs are common for Forest, record any necessary year$-$end adjusting entry based on the amount calculated in requirement $2.$Required $1$

Required $2$

Required $3$

Determine the carrying value of ending inventory, assuming the lower of cost or market $($LCM$)$ rule is applied to individual products.

Note: Do not round intermediate calculations.

$\backslash$table$[[\backslash$table$[[$Product$],[($units$)]],$RC$,$NRV$,$NRV minus NP$,$Market,Cost,$\backslash$table$[[$Inventory$],[$value$]]],[A(900)$