12 Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows: Inventory, by Product Category Tools: Per Unit Net Realizable Quantity Cost Value 3.5 points Hammers 100 $5.90 $6.40 Saws 290 10.90 9.90 Screwdrivers 390 2.90 3.50 02:2032 Paint products: 1-gallon cans 590 6.90 5.90 Paint brushes 100 4.90 5.40 Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory 2. Assuming inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of the LCNRV applications in requirement 1.