Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2018 year-end inventory is as follows Net Realizable Value Per Unit Inventory, by Product Category Tools Quantity Cost S S.10 $5.60 11e 210 310 Hammers 1e.1e 9.10 Saws Screwdrivers Paint products 1-gallon cans Paint brushes 2.7e 2.10 6.10 4.1e 5.10 4.60 51e 110 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 that the company reports an inventory write-down as a line item in the income statement, for each of the LCNRV applications determine the amount of the loss 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 net realizable value (LCNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory Lower of cost and NRV Net By By Total Realizable individual Product Product Cost Value Products Inventory Tools Hammens Saws Screwdrivers 1 of 3 Prey Next> re to search nequneu 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCN (a) individual products, (b) product categories, and (c) total inventory 2. Assuming that the company reports an inventory write-down as a line item in the income statement, for each c applications determine the amount of the loss 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 net realizable vaue (LCNRV) rule applied to (a) individual products, (b) product categories, and (c) total inventory. Lower of cost and NRV By Net By Realizable Product By Total Individual Product Cost Value Products Inventory Tools Hammers Saws Screwdrivers Total tools Paint products: 1-gallon cans Paint brushes Total paint Total Required Required 2 Per Unit Realizable Inventory, by Product Category Tools: Quantity Cost Value $ 5.1e 11e 21e $5.6e 9.1e Hammers Saws Screwdrivers Paint products: 1-gallon cans Paint brushes 1e.1e 31e 2.1e 2.7e 51e 6.18 5.10 4.60 110 4.1e Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied ta (a) individual products, (b) product categories, and (c) total inventory 2. Assuming that the company reports an inventory write-down as a line item in the income statement, for each of the LCNRV applications determine the amount of the loss Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming that the company reports an inventory write-down as a line item in the income statement, for each of the LCNRV applications determine the amount of the loss. (a) Individual products (b) Product categories (c) Total inventory Required 1 Required 21