Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2018 year-end inventory is as follows nventory, Furniture: Desks 30 20 70 $ 36 84 42 69 183 Tables 95 Accessories: 40 50 Rugs 59 29 71 Lamps Required: 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 that the company reports an inventory write-down as a line item in the income statement, for each of the LCM applications determine the amount of the loss. 3 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming that the company reports an inventory write down as a line item in the income statement, for each of the LCM applications determine the amount of the loss $880 $ 580 03 140 ndividual ducts b) Product (c) Total inventory categories