Home Stop sells two product categories, fumiture and accessories. Information pertaining to its 2021 year-end Inventory is as follows: Per Unit Cost Quantity Market $33 Inventory ty Product Category Furniture Chairs Desks Tables Accessories: Rugs Lamps 70 40 40 $27 75 WS 94 50 52 24 54 20 Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost of market (LCM) rule is applied to (o) individual products, product categories, and (c) total inventory 2. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjustment amount for each of the UCM applications in requirement1 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 adjustment amount for each of the LCM applications in requirement 1. Complete this question by entering your answers in the tabs below. Required 1 Required 2 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. Lower of cost or market By Individual By Product By Total Products Categories Inventory Product Cost Market Furniture Chairs Desks Tables Total furniture Accessores 3 5 5 Lamps Total Socies Tot 0 5 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjustment amount for each of the LCM applications in requirement 1. (a) Individual products (b) Product categories (e) Total inventory