Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows: Net Per Unit Cost Realizable Value Quantity $ Inventory by Product Category Tools: Hammers Saws Screwdrivers Paint products: 1-gallon cans Paint brushes 100 200 300 5.00 10.00 2.00 $5.50 9.00 2.60 500 100 6.00 4.00 5.00 4.50 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 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. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) General Journal Debit Credit No 1 Transaction 1 / Cost of goods sold Inventory 22 Cost of goods sold Inventory Cost of goods sold Inventory Required 1 Required 2 >