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

Inventory, by Product Category Quantity Per Unit Cost Market

Furniture:

Chairs $80$ $ $41$ $ $47$

Desks $708974$

Tables $30100108$

Accessories:

Rugs $807664$

Lamps $603834$

Required:

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.

Assuming inventory write$-$downs are common for Home Stop, record any necessary year$-$end adjusting entry for each of the LCM applications in requirement $1.$