Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2018 year end inventory is as follows: Per Inventory, Unit by Product category Quantity Cost Market Furniture: Chairs 50 $32 $ 38 Desks 40 80 65 Tables 59 91 99 Accessories : Rugs 80 67 55 Lamps 30 29 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