10 Decker Company has five products in its inventory Information about the December 31, 2021, Inventory follows 125 pents Unit Cost $24 Product Quantity 1,250 1,050 C 900 D 900 Unit Selling Price 530 32 6 4 27 3 28 The cost to sell for each product consists of a 10 percent sales commission Required: 1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products 2. Determine the carrying value of inventory at December 31, 2021. assuming the LCNRV rule is oppiled to the entire inventory 3. Assuming inventory write-downs are common for Decker record any necessary year-end adjusting entry based on the amount calculated in requirement 2 10 1. Determine the carrying value of inventory of December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products 2. Determine the carrying value of inventory at December 31, 2021, assuming the LCNRV rule is applied to the entire inventory 3. Assuming inventory write-downs are common for Decker, record any necessary year-end adjusting entry based on the amount calculated in requirement 2 125 Complete this question by entering your answers in the tabs below. Required 1 Requred 2 Required 3 Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. (Do not round intermediate calculations. Product Units Cost NRV Inventory Valie A 1.250 1,050 900 D 500 E 900 Facultad 2 > 10 1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products 2. Determine the carrying value of inventory at December 31, 2021, assuming the LCNRV rule is applied to the entire inventory. 3. Assuming inventory write-downs are common for Decker record any necessary year-end adjusting entry based on the amount calculated in requirement 2 125 points Complete this question by entering your answers in the tabs below. 00 Pre Required 1 Required 2 Required 3 Determine the carrying value of inventory at December 31, 2021, assuming the CCNRV rule is applied to the entire inventory. (Do not round Intermediate calculations.) Inventory carrying value Complete this question by entering your answers in the tabs below. 10 Required 1 Required 2 Required 3 125 Dont Assuming Inventory write-downs are common for Decker, record any necessary year-end adjusting entry based on the amount calculated In requirement 2. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction lit Journal entry worksheet Record any necessary vear-end adjusting entry assuming that inventory write. downs are common for Decker Company Transaction General Journal Debit Credit