Decker Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Unit Selling Price $30 Product A B D Unit Cost $ 23 29 5 12 28 Quantity 1,250 1,050 850 450 850 32 13 11 27 E 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. 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.) Product Units Cost NRV Inventory Value A 1,250 B 1,050 C 850 D 450 E 850 $ 0 $ 0 $ 0 Required 1 Required 2 > 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 Journal entry worksheet 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 1 Record entry Clear entry View general journal