Forester Company has five products in its inventory. Information about the December 31, 2018, inventory follows. Product Quantity A 900 B 1,000 900 D 1,000 E 900 Unit Cost $ 16 21 9 13 20 Unit Replacement Cost $18 17 8 10 18 Unit Selling Price $22 24 14 12 19 The cost to sell for each product consists of a 10 percent sales commission. The normal profit percentage for each product is 40 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 2A Reg 1 Req 28 Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or market (LCM) rule is applied to individual products. (Do not round intermediate calculations.) Product Inventory NRV NRV-NP Market (units) Value A (900) RC Cost DH 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. Reg 1 Req 2A Req 2B Determine the carrying value of inventory at December 31, 2018, 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 Value Product (units) A (900) B (1000) C (900) D (1000) E (900) Total Red Req2A > The cost to sell for each product consists of a 10 percent sales commission. The normal profit percentage for each product is 40 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. Reg 1 Reg za Reg 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 (Reg1 Req 28 > Reg 1 Req 2A Req 2B Assuming the inventory write-downs are usual business practice for Forester, record any necessary year-end adjusting entry. (Do no 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 1 Record any necessary year-end adjusting entry assuming that inventory write- downs are common for Forester Company. Note: Enter debits before credits. General Journal Debit Credit Event 1 No journal entry required Accounts payable Accounts receivable Accumulated depreciation Recorded View general Journal