Forester Company has five products in its inventory. Information about the December 31, 2021, inventory follows.

The cost to sell for each product consists of a 20 percent sales commission. The normal profit for each product is 30 percent of the selling price. Required: 1. Please help me determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or market (LCM) rule is applied to individual products. 2. Please help me determine the carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory. 3. Please help me figure this out: Assuming inventory write-downs are common for Forester, record any necessary year-end adjusting entry based on the amount calculated in requirement 2. Thanks!

Forester Company has five products in its inventory. Informa Unit Cost $ 11 Product Unit Replacement Cost $13 12 Unit Selling Price $17 Quantity 900 500 900 600 700 OO AUAN