Decker Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Unit Unit Selling Product Quantity 1,050 850 700 Cost Price A $ 29 $36 35 36 12 ok 300 11 10 700 32 30 t nces The cost to sell for each product consists of a 10 percent sales commission. 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. Determine the carrying value of inventory at December 31, 2021, assuming the LCNRV rule is applied to the entire inventory. 3. Assuming inventory write-downs are common for Decker, record any necessary year-end adjusting entry based on the amount calculated in requirement 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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. (Do not round intermediate calculations.) Prev 3 of 5 Next> elen e ue Cuny g 0alue UI IventUly at DeCeinibel 31, 2021, aSsuiliig iie Lcivnviuie 13 appieu w uie enure nivenun y. 3. Assuming inventory write-downs are common for Decker, record any necessary year-end adjusting entry based on the amount calculated in requirement 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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. (Do not round internmediate calculations.) Product Inventory Value Cost NRV (units) A (1 B 050) C (850) D (700) E (700) S $ 0 0 Required Required 2 3. ASSumn Ivent8ry wPite-downs are common for Decker, record any necessary year-end adjusting entry based on the amoun calculated in requirement 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the carrying value of inventory at December 31, 2021, assuming the LCNRV rule is applied to the entire inventory. (Do not round intermediate calculations.) Inventory carrying value Required 1 Required 3 > View transaction list Journal entry worksheet 1 Record any necessary year-end adjusting entry assuming that inventory write- downs are common for Decker Company. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal (Prey 3 of 5 Next>