Seved Help Save & Exit Su Check my w Decker Company has five products in its inventory. Information about the December 31, 2021, Inventory follows. Product Quantity 1,220 B 1 .020 C 820 D 400 E P 820 Unit Cost $ 21 24 3 10 26 Unit Selling Price $25 30 11 25 30 . eBook Print eferences The cost to sell for each product consists of a 10 percent sales commission. Required: 1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. 2. Determine the carrying value of inventory at December 31, 2021, assuming the LCNRV rule is applied to the entire inventory. 3. Assuming inventory write downs are common for Decker, record any necessary year-end adjusting entry based on the amount calculated in requirement 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Che . 3. Assuming inventory write downs are common for Decker, record any necessary year-end adjusting entry based on the amo calculated in requirement 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or net realizable value (LONRV) rule is applied to individual products. (Do not round intermediate calculations.) NRV Inventory Value $ Product (units) A[1 B 220) 1 C ( D 020) E 020) Cost 25,620 24,400 2 .460 4,000 21,320 77 880 $ $ OSTO Red Required 2 > Required 1 Required 2 Required 3 Determine the carrying value of inventory at December 31, 2021, assuming the LONRV rule is applied to the entire inventory (Do not round intermediate calculations) Inventory carrying value Required > Assuming inventory write-downs are common for Decker, record any necessary year-end adjusting entry based on the amount calculated in requirement 2. (If no entry is required for a transaction/event, select No journal entry required in the first secon d ) View transaction lit Journal entry worksheet Record any necessary year-end adjusting entry assuming that inventory write downs are common for Decker Company, Note: Enter debits before credits Transaction General Journal 1 / / / / / / / / / / 1 5 ! Next >