Check my work Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end inventory is as follows: Inventory, Per Unit by Product Category Quantity Furniture: Market Chairs Desks 50 $25 $31 20 Tables 23 58 20 84 Accessories: 92 Rugs 40 60 48 30 22 18 Cost Book Lamps cs Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) individual products. (b) product categories, and total inventory 2. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjustment amount for each of the LCM applications in requirement 1. 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 market (LCM) rule is applied to (a) Individual products, (b) product categories, and (c) total inventory Product Cost Market Lower of cost or market by individual Hy Product By Total Products Categories Inventory Furniture Required 1 Required 2 BOOK Print References Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) individual products, (b) product categories, and (c) total inventory Lower of cost or market Product Cost By Product Market By Individual By Total Products Categories Inventory Furniture Chairs $ 1,250 Desks Tables Total fumiture $ 1.250 S 0 Accessories Rugs Lamps Total accessories $ 0$ 0 Total $ 1.250 $ 0 $ 0 S 0 Required 2 > Complete this question by entering your answers in the tabs below. int nonces Required 1 Required 2 Assuming Inventory write-downs are common for Home Stop, record any necessary year-end adjustment amount for each of the LCM applications in requirement 1. (A) Individual products (1) Product categories (c) Total inventory (Required