Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows: 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. 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. Journal entry worksheet Record necessary year-end adjustment for individual products. Note: Enter debits before credits. Journal entry worksheet Record necessary year-end adjustment for product categories. Note: Enter debits before credits. Journal entry worksheet Record necessary year-end adjustment for total inventory. Note: Enter debits before credits