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Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows: Net Realizable Value Per Unit Cost Quantity Inventory by Product Category Tools Hammers Saws Screwdrivers Paint products: 1-gallon cans Paint brushes 110 210 310 $ 5.10 10.10 2.10 $5.60 9.10 2.70 510 110 6.10 4.10 5.10 4.60 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 CNRV applications in requirement 1. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 1 Required 2 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. K Lower of cost and NRV ces Net Realizablo By Individual Value Products By Product Categories By Total Inventory Product Cost Tools: Hammers $ 0 $ 0 Saws Screwdrivers Total tools Paint products: 1-gallon cans Paint brushes Total paint Total 0 $ $ 0 $ 0 $ 0 $ OS 0 Rani Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 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. (Do not round Intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list ences Journal entry worksheet 2 3 Record necessary year-end adjustment for individual products. Note: Enter debits before credits Transaction General Journal Debit Credit 1 explanation Record entry Clear entry View general Journal Required 1 Required 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. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record necessary year-end adjustment for product categories. Note: Enter debits before credits General Journal Debit Credit Transaction 2 explanation Record entry Clear entry View general Journal MacBook Pro Required 1 Required 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. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record necessary year-end adjustment for total inventory. Note: Enter debits before credits General Journal Debit Credit Transaction 3 explanation Record entry Clear entry View general Journal MacBook Pro