Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows:

Inventory, by Product Category	Quantity			Per Unit Cost				Net Realizable Value
Tools:
Hammers	120			$	5.80			$	6.30
Saws	280				10.80				9.80
Screwdrivers	380				2.80				3.40
Paint products:
1-gallon cans	580				6.80				5.80
Paint brushes	120				4.80				5.30

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.

• Record necessary year-end adjustment for individual products.
• Record necessary year-end adjustment for product categories.
• Record necessary year-end adjustment for total inventory.

			Lower of cost and NRV
		Net Realizable Value	By Individual Products	By Product Categories	By Total Inventory
Product	Cost
Tools:
Hammers
Saws
Screwdrivers
Total tools	$0	$0
Paint products:
1-gallon cans
Paint brushes
Total paint	$0	$0
Total	$0	$0	$0	$0