Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows: Net Inventory, Per Unit Realizable by Product Category Quantity Cost Value Tools: Hammers 118 $4.78 $5.28 Saws 176 9.70 8.78 Screwdrivers 278 1.78 2.38 Paint products: 1gallon cans 478 5.76 4.78 Paint brushes 118 3.70 4.28 Required: 1. Determine the carrying value ofinventory 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. Screwdrivers Total tools Paint products: 1-gallon cans Paint brushes Total paint