ONLY NEED REQUIREMENT #2

Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end Inventory is as follows: Per Unit Cost Net Realizable Value Quantity Inventory, by Product Category Tools: Hammers Saws Screwdrivers Paint products: 1-gallon cans Paint brushes 110 110 210 $4.10 9.10 1.1e $ 4.60 8.10 1.70 410 110 5.1e 3.le 4.10 3.60 Required: 1. Determine the carrying value of Inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (a) Individual products, (b) product categories, and (c) total Inventory 2. Assuming Inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of the LCNRV applications in requirement 1. Complete this question by entering your answers in the tabs below. 2. Assuming Inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for ea of the LCNRV applications in requirement 1. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of th applications in requirement 1. (Do not round intermediate calculations. If no entry is required for a transaction/event, select entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 1 Cost of goods sold Inventory 2 2 Cost of goods sold Inventory 3 3 Cost of goods sold Inventory