Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end inventory is as follows:

Inventory, by Product Category	Quantity			Per Unit Cost				Market
Furniture:
Chairs	30			$	30			$	36
Desks	70				78				63
Tables	40				89				97
Accessories:
Rugs	60				65				53
Lamps	80				27				23

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.