2 Case Study #2-Chapter 9A Problem 5 THE WILDCAT COMPANY 7 The Wildcat Company has five products in its inventory. 9 Information about the December 31, 2017, inventory is as follows: 10 Unit Cost Unit Selling Price 12 Quantity 1,000 800 600 200 Product 14 15 16 17 18 19 20 The cost to sell for each product consists of a 15% sales commission. 21 22 Requirement 1: 10.0016.00 18.00 8.00 6.00 13.00 15.00 3.00 7.00 14.00 Determine the total carrying value of inventory at December 31, 2017, assuming the lower 23 of cost and net realizable value rule is applied to individual products. 24 25 Requirement 2: Determine the total carrying of inventory at December 31, 2017, assuming the lower of cost and net realizable value rule is applied to the entire inventory. Also, assuming inventory write-downs are usual business practice for Wildcat Company, rLord any necessary year- 26 end adjusting entry. 27