Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2018 year-end inventory is as follows: Inventory Per Unit t Category Quantity Cost Furniture: Chairs Desks Tables 30 20 7e $36 84 95 42 69 103 Accessories: 71 59 Rugs Lamps 50 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. Complete this question by entering your answers in the tabs below Required 1 Required 2 Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) individuat products, (b) product categories, and (c) total inventory Lower of cost or market By Individual By Product By Total Inventory Product Cost Products Type Furniture Chairs Desks