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	100			$	4.20			$	4.70
Saws	120				9.20				8.20
Screwdrivers	220				1.20				1.80
Paint products:
1-gallon cans	420				5.20				4.20
Paint brushes	100				3.20				3.70

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 1.

\begin{tabular}{|c|c|c|c|c|c|} \hline & & & \multicolumn{3}{c|}{ Lower of cost and NRV } \\ \cline { 4 - 6 } & & \begin{tabular}{c} Net Realizable \\ Value \end{tabular} & \begin{tabular}{c} By Individual \\ Products \end{tabular} & \begin{tabular}{c} By \\ Product \\ Categories \end{tabular} & \begin{tabular}{c} By Total \\ Inventory \end{tabular} \\ \hline Product & Cost & & & & \\ \hline Tools: & & & & & \\ \hline Hammers & & & & & \\ \hline Saws & & & & & \\ \hline Screwdrivers & & & & & \\ \hline Total tools & & & & & \\ \hline Paint products: & & & & & \\ \hline 1-gallon cans & & & & & \\ \hline Paint brushes & & & & & \\ \hline Total paint & & & & & \\ \hline Total & & & & & \\ \hline \end{tabular}