Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end inventory is as follows Inventory, by Product Category Furniture: Chairs Desks Tables Accessories: Rugs Lamps Per Unit Quantity Cost Market 50 $25 $31 10 73 58 20 84 92 40 60 48 30 22 18 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 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 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 $ 750 (b) Product categories $ 310 (c) Total inventory