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Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end inventory is as follows: Required: 1. Determine the carrying value

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Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end inventory is as follows: Required: 1. Determine the carrying value of inventory at year end, assuming the lower of cost or market (LCM) rule is applied to (o) individual products, (b) product categories, and (c) total inventory. 2. Assuming inventory write-downs are common for Horne Stop, record any necessory year-end odjustment amount for each of the ICM applications in requirement 1. Complete this question by entering your answers in the tabs below. 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

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