Home Stop sells two product cotegories, furniture and accessories. Information pertaining to its 2018 year-end inventory is as follows: Inventory, by Product Category Furniture: Chairs Per Unit Cost Quantity Market 28 $35 41 Desks 60 68 83 Tables 70 94 102 Accessories: Rugs Lamps 3e 7e 58 7e 32 28 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 th is question by entering your answers in the tabs below. Required 2 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. Lower of cost or market By Product By Total Inventory By Individual Producte Product Cost Market Furniture: Chairs Desks Tables Tatal furniture Accessories: Rugs Lamps Tatal accessories Tatal