Forest Company hos five products in its inventory. Information about ending inventory follows. The cost to sell for each product consists of a 15 pescent sales commission. The normal profit for each product is 40 percent of the selling price. Required: 1. Determine the carging value of ending inventory, assuming the lower of cost or market (LCM) rule is appliod to individual products. 2. Determine the carrying value of imventory, assuming the LCM nule is opplied to the entire inventory. 3. Assuming imventory write-downs are common for Forest record any necessary year-end adjusting entry based on the amount calculated in requirement 2 Cemplets this auestion by entering your answers in the tabs below. Fequirat 1 Reovired 2 Required 3 Determine the cerrving value of endma invertery, atsuming the fower of cout or market (LCM) rule is appiled to indivicua