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

Product	Quantity	Unit Cost	Unit Replacement Cost	Unit Selling Price
A	800	$ 27.00	$ 29.00	$ 33.00
B	800	$ 32.00	$ 28.00	$ 35.00
C	600	$ 20.00	$ 19.00	$ 25.00
D	800	$ 24.00	$ 21.00	$ 23.00
E	500	$ 31.00	$ 29.00	$ 30.00

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: 1. 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. Determine the carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory. 3. Assuming inventory write-downs are common for Forester, 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 2 Required 3 Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or market (LCM) rule is applied to individual products. (Do not round intermediate calculations.) RC NRV NRV-NP Market Cost Inventory carrying value Product (units) A (800) B (800) C (600) D (800) E (500) Total $ 0 $ $ 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory. (Do not round intermediate calculations.) Inventory carrying value View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory. (Do not round intermediate calculations.) Inventory carrying value View transaction list Journal entry worksheet