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 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. 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. Imaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory as follows: lequired: - Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to ) 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 CNRV applications in requirement 1. Complete this question by entering your answers in the tabs below. 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.)