2 2.85 points eBook Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end inventory is as follows: Inventory, by Product Category Furniture: Chairs Desks Tables Accessories: Rugs Lamps Per Unit Quantity Cost Market 20 $33 $ 39 30 81 66 50 92 100 70 68 56 80 30 26 Print References Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. 2. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjustment amount for each of the LCM applications in requirement 1. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. Product Furniture: Chairs Desks Tahloc Lower of cost or market Cost Market By Individual Products By Product Categories By Total Inventory