Record any necessary year-end adjusting entry assuming that inventory writedowns are common for Tatum Company. Note: Enter debits before credits. Determine the carrying value of ending inventory assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. Tatum Company has four products in its inventory. Information about ending inventory is as follows: Required: 1. Determine the carrying value of ending inventory assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. 2. Assuming that inventory write-downs are common for Tatum Company, record any necessary year-end adjusting entry. Costs to sell consist of a sales commission equal to 10% of selling price and shipping costs equal to 10% of cost. Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule o units of ending inventory