WK 3-1 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. Product A BCD w E Quantit y 1,000 800 600 200 600 Unit Cost $10 15 7 14 Unit Replace Unit ment Selling Price Cost 1 2 4 1 2 6888613 The cost to sell for each product consists of a 15 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.