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			$	5.50			$	6.00
Saws	250				10.50				9.50
Screwdrivers	350				2.50				3.10
Paint products:
1-gallon cans	550				6.50				5.50
Paint brushes	120				4.50				5.00

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.

			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
Paint products:
1-gallon cans
Paint brushes
Total paint
Total

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.

(a)	Individual products
(b)	Product categories
(c)	Total inventory