Almaden Hardware Store sellstwo product categories, tools and paint products. Information pertaining to its 2018 year-end inventory is as follows: Per Unit Cost Net Realizable Inventory, by Product Category Quantity Tools: Value Hammers Saws Screwdrivers 120 130 230 $4.30 9.30 1.30 4.80 8.30 1.90 Paint products: 438 5.3 120 1-gallon cans Paint brushes 4.30 3.8 3.30 Required: 1. Determine the carrying value of inventory at year end, assuming the lower of cost or net realizable value (1CNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. 2. Assuming that the company reports an inventory write-down as a line item in the income statement, for each of the LCNRV applications determine the amount of the loss. Required 1 Required2. 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 By Product Type Net Realizable Value By Individual Products By Total Product Tools Hammers Saws Screwdrivers Total tools Paint products 1-gallon cans Cost Inventory Paint bushes Total paint Total Required 1Required 2 Assumingthat the company reports an inventory write-down as a line item, in the income statement, for each of the LCNRV applications determine the amount.of the loss : (a) Individual products (b) Product categories (c) Total inventory