Home Stop sells two product categories, turniture and accessories. Intormation pertaining to its 2018 year-end inventory is as follows Inventory, Per Unit by Product Category Quantity Cost Market Furniture: Chairs Desks Tables 30 70 40 $30 78 89 $36 63 97 Accessories: 60 80 65 27 53 23 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 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 1Required 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 By Individual Products By Total Inventor Product Cost Market By Product Furniture Chairs Desks Tables Total furniture Accessories Rugs Lamps Total accessories Total