Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end inventory is as follows Inventory, Per Unit by Product Category Quantity Cost Market Furniture: Chairs 56 $31 $37 Desks 26 79 64 Tables 59 98 98 Accessories: Rugs 29 66 54 Lamps 76 28 24 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. Determine the carrying value of inventory at yearend, assuming the lower of cost or market (LCM) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. Furniture: Chairs Desks Tables Total fumiture Accessories: Rugs Lamps Total accessories Total :I Assuming inventory writedowns are common for Home Stop, record any necessary yearend adjustment amount for each of the LCM applications in requirement 1. Individual products (b) Product categories (c) Total inventory