Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end Inventory is as follows: Quantity Per Unit Cost Market Inventory, by Product Category Furniture: Chairs Desks Tables Accessories: Rugs Lamps 80 70 30 $ 41 89 100 $ 47 74 108 76 38 64 34 60 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 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. Lower of cost or market Product By Product By Individual By Total Cost Products Categories Inventory Furniture: Market Chairs Desks Tahlen Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end Inventory is as follows: Per Unit Cost Quantity Market Inventory, by Product Category Furniture: Chairs Desks Tables Accessories: Rugs Lamps 80 70 30 $ 41 89 100 $ 47 74 108 80 60 76 38 64 34 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 (b) Product categories (c) Total inventory