Forest Company has tive products in its inventory. Information about ending inventoryfollows.Product Quantity Cost$A900293422BCсDE9009009001,000LeaUnitUnitUnit Replacement SellingCostPrice2633Required 1Product(units)A (900)B (900)C/900)$ 313021The cost to sell for each product consists of a 20 percent sales commission. The normalprofit for each product is 40 percent of the selling price.Required 2 Required 3RC0131223231. Determine the carrying value of ending inventory, assuming the lower of cost ormarket (LCM) rule is applied to individual products.2. Determine the carrying value of inventory, assuming the LCM rule is applied to theentire inventory.313. Assuming inventory write-downs are common for Forest, record any necessary year-end adjusting entry based on the amount calculated in requirement 2.NRVComplete this question by entering your answers in the tabs below.57223$35Determine the carrying value of ending inventory, assuming the lower of cost or market (LCM) rule is applied to individualproducts.Note: Do not round intermediate calculations.NRV minus NPMarketCostInventoryvalue

Name: Forest Company has tive products in its inventory. Information about
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Forest Company has tive products in its inventory. Information about ending inventoryfollows.Product Quantity Cost$A900293422BCсDE9009009001,000LeaUnitUnitUnit Replacement SellingCostPrice2633Required 1Product(units)A (900)B (900)C/900)$ 313021The c