Complete this question by entering your answers in the tabs below. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjusting entry for each of the LCM applications in requirement 1. Journal entry worksheet Record the year-end adjustment for inventory assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjustment for inventory assuming the lower of cost or net realizable value (LCNRV) rule is applied to product categories. Note: Enter debits before credits. Problem 9-4 (Algo) Lower of cost or market; by product, category, and total inventory [LO9-1] Home Stop sells two product categories, furniture and accessories. Information pertaining to its year-end inventory is as follows: 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 (c) total inventory. 2. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjusting entry for each of the LCN applications in requirement 1. Complete this question by entering your answers in the tabs below. 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. Journal entry worksheet Record the year-end adjustment for inventory assuming the lower of cost or net realizable value (LCNRV) rule is applied to total inventory. Note: Enter debits before credits