Forester Company has five products in its inventory. Information about the December 31, 2018, inventory follows Unit Unit Replacement Selling Price Unit Cost Quantity 900 900 Cost Product $31 $ 25 30 $27 26 A 33 B 23 17 19 18 500 C 21 22 700 D 28 27 29 500 E The cost to sell for each product consists of a 10 percent sales commission. The normal profit percentage for each product is 35 percent of the selling price. 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. Req 2B Req 2A Req 1 Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or marke to individual products. (Do not round intermed iate calculations.) Inventory Value Product (units) Cost Market NRV-NP NRV RC A (900) B (900) C (500) D (700) E (500) Total Req 2A> Req 1 The cost to sell for each product consists ofa 10 percent sales commission. The normal profit percentage for each product is 35 percent of the selling price. 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. Req 1 Req 2A Req 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 2B Req 1 Req 2A Req 2B Req 1 Assuming the inventory write-downs are usual business practice for Forester, record any necessary year-end adjusting entry. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account 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 1