Problem 9-4 (Static) Lower of cost or market; by product category, and total Inventory (LO9-1] Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end inventory is as follows: Inventory Per Unit by Product Category Quantity Cost Market Furniture: Chairs 50 $25 S31 Desks 10 73 58 Tables 20 84 92 Accessories: Rugs 40 60 48 Lamps 30 22 18 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