Forester Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Unit Unit Unit Replacement Selling Product Quantity Cost Cost Price A 800 $13 $ 15 $ 19 B 600 18 14 21 500 6 5 11 D 900 10 7 9 E 600 17 15 16 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: 2. Determine the carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory. Answer is not complete. 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 S 38,200 3. Assuming inventory write-downs are common for Forester, record any necessary year-end adjusting entry based on the amount calculated in requirement 2. * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Assuming inventory write-downs are common for Forester, record any necessary year-end adjusting entry based on the amount calculated in requirement 2. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) No Transaction General Journal Credit Debit 3,800 Cost of goods sold Inventory 3,800 x