Im stuck on this entire problem if you could help me solve all of it.

Problem 9-3 Lower of cost or market [LO9-1] Forester Company has five products in its inventory. Information about the December 31, 2018, inventory follows. Unit Unit 5 points Unit Cost s 11 16 Replacement Selling Product Quantity Cost $13 Price $17 19 900 500 900 600 700 15 13 eBook The cost to sell for each product consists of a 20 percent sales commission. The normal profit percentage for each product is 30 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