Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2018 year-end inventory is as follows: Net Per Unit Cost Realizable Value Quantity $ Inventory by Product Category Tools Hammers Sav Screwdrivers Paint products 1-gallon cans Paint brushes 110 210 5.10 10.10 2.10 $5.60 9.10 2.70 310 510 110 6.10 5.10 4.10 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 Realizable Value Individual Products Product Type By Total Inventory Cost Product Tools: Hammers Saws Screwdrivers Total tools Paint products: 1-gallon cans Paint brushes Total paint Total 0 0 0 % % 0 $ Required 1 Required 2 > 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 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 2