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

Assuming inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of the LCNRV applications in requirement 1.

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