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

$\backslash$table$[[,,$Unit Replacement,Unit Selling,$],[$Product$,$Quantity,Unit cost,Cost,Price$],[$A$,1,000,$$$17,$$$19,23],[$B$,700,22,18,25],[$C$,1,000,10,9,15],[$D$,900,14,11,13],[$E$,600,21,19,20]]$

The cost to sell for each product consists of a $15$ percent sales commission. The normal profit for each product is $40$ 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 $2.$

Complete this question by entering your answers in the tabs below.

Required $1$

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$]]],[A(1,000),,,,,,],[B(700),,,,,,],[C(1,000),,,,,,],[D(900),,,,,,],[E(600),,,,,,],[,,,,,,]]$