Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year- end inventory is as follows: Per Unit cost Market 20 Inventory, by Product Category Quantity Furniture: Chairs Desks Tables Accessories: Rugs $33 $ 39 92 100 Lamps 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. 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. Product Cost Lower of cost or market By Individual By Product By Total Products Categories Inventory Market Furniture: Chairs Desks Tables Total furniture Accessories: Rugs Lamps Total accessories Total 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