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 volue of inventory at year-end, assuming the lower of cost or net realizabie value (LCNRV) rule is applied to (a) indivdual products, (b) product categonies, and (c) total inventory. 2. Assuming inventory wite downs are common for Almaden, record any necessary year-end adjustment amount for each of the LCNRV applcatons in requirement1. Required: 1. Determine the carrying value of inventory at year-end, assuming the iower of cost or net realizable value (LCNRV) nule is applled to (a) individual products, (b) product categones, 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 Complete this question by entering your answers in the tabs below. 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. 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 fournal entry required" in the first account field.) Journal entry worksheet Record necessary year-end adjustment for individual products. Hetan Finter debits bebre credas, 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 joumal entry required" in the first account field.) Journal entry worksheet Record necessary year-end adjustment for product categories. Mote. Enter debits hefore credits. 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.) Journal entry worksheet Record necessary year-end adjustment for total inventory. thot a finter debits hefors cresdita