Check my Tatum Company has four products in its inventory. Information about the December 31, 2021, inventory is as follows: Product 101 102 103 184 Total Cost $120,000 90,000 60,000 30,eee Total Net Realizable Value $100,000 110,000 50,000 5e,eee Required: 1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products 2. Assuming that inventory write-downs are common for Tatum Company, record any necessary year-end adjusting entry