Decker Company has five products in its inventory. Information about the December 31, 2018, inventory follows Unit Selling Price $16 18 1e Unit Product Quantity Cost 1,050 900 700 399 780 11 15 4 14 12 The cost to sell for each product consists of a 15 percent sales commission Required 1. Determine the carrying value of inventory at December 31, 2018, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products 2a. Determine the carrying value of inventory at December 31, 2018, assuming the LCNRV rule is applied to the entire inventory. 2b. Assuming the inventory write-downs are usual business practice for Decker, record any necessary year-end adjusting entry. nventory Value Cost NRV units A1050 900 700 D 300 E 700 |$ 11,550 13,500 2,800 2,1602,160 7,560 $ 40,350 45,720 37,570 11,5500$ 13,500 2,800 2,7002 9,800 15,12 14,580 6,300 7,560 Determine the carrying value of inventory at December 31, 2018, assuming the LCNRV rule is applied to the entire inventory nventory carrying value Assuming the inventory write-downs are usual business practice for Decker, record any necessary year-end adjusting entry (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Event General Journal Debit Credit