Check my wor Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2018 year-end inventory is as follows: Per Unit Cost Net Realizable Value Quantity points Skipped Inventory, by Product Category Tools: Hammers Saws Screwdrivers Paint products: 1-gallon cans Paint brushes 120 250 350 $ 5.50 10.50 2.50 $6.00 9.50 3.10 550 120 6.50 4.50 5.50 5.00 eBook 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 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 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. Net Realizable Value Lower of cost and NRV By Individual Product By Total Products Type Inventory Cost Product Tools: Hammers Saws Screwdrivers Total tools S Paint products: 1-gallon cans Paint brushes Total paint $ Total IS 0 S 0 $ 0 0 s ols Required 1 Required 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. (a) Individual products (b) Product categories (c) Total inventory