Mce. hindware stoce sels two product categorles, tools and paint prodicts. informaton pertairing to its year end inventory s as triliows. Requiredt 1. Determine the carrying value of inventory at year-end, assuming the fover of cost or net reatzable vatue flCNin ruse is appled to (ia) individual products, (b) product categories, and ic) total inventofy. 2. Assaming ampentory write-downs are common for Ace, recoed any necessary year-end ocfurting entry for each of the tCNiRV applications in requkement. 1 . (0) Answer is not cemplete. Complete this guestion by entering your answers in the tals below. Determine the carrims value of inventory at year-end, astumino the foner of coet of net realliatle value flcoiv) nile in apoind to (a) individual products, (b) product categories, and (c) total inventory. Complete this apunstion by entering your answers in the tabs below. Determine the carrying value of imventory at year-end, assuming the fewer of cost or net reafrable value (tLCRAity) thle is applied to (a) indlividual products, (b) product categories, and (c) total inventory: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realrable value (iC)irV) rule is appled to (a) individual products, (b) product categories, and (c) totat irventory. 2. Assuming inventory write-downs are common for Ace, tecord any necessary year-end adjusting entry for each of the tCrorV applicatons in requirement 1 . Answer is not complete. Complete this question by entering your answers in the tabs below. Assuming inventocy write-downs are common for Ace, record any necessary year-end adjusting entry for each of the LCNRV applications if requirement 1. Notes Do not round intermedlate calculations, If no entry is required for a transaction/event, select Tho joumal entry required in the first account field