Decker Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Product Quantity

A 1,300 unit cost $26, unit selling price $36

B 1,100 unit cost $31, unit selling price $34

C 1,000 unit cost $4, unit selling price $8

D 600 unit cost $7, unit selling price $6

E 1,00 unit cost $30, unit selling price $29

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.

Decker Company has five products in its inventory. Information about the December 31,2021 inventory follows The cost to sell for each product consists of a 10 percent sales commissiori Required: 1. Determine the carrying value of inventory at December 31, 2021, assuming the lover of cost or net realizable value (LCNRV) rule applied to individual products 2. Determine the carrying value of inventory at December 31, 2021, assuming the LCNRV rule is applied to the entice inventory 3. Assuming iffentory whte downs are common for Decket, recard any necessary year end adjusting entry based on the amount. calculated in requirement 2 Complete this question by entering your answers in the tabs belaw. Determine the carrying value of inventory at December 31,2021 , assuming the low rule is applied to individual products. (Do not round intermediate calculations.) Determine the carrying value of inventory at December 31,2021 , assuming the (Do not round intermediate calculations.) Assuming inventory write downs are commen for Decker, recotd any necessary yearn end adjusting entry based on the amount calculatmd in requirement 2. (If no entry is required for a transaction/event, select "No journal entry requited" in the firt t iccaurit Field.) Journal entry worksheet Record any necessary year:end adjusting entry assuming that inventory write. downs are common for Decker Company. Nater Enter dehits before oredits