Tatum Company has four products in its inventory Information about the December 31, 2013, inventory is as follows Total Net Total Cost 85,000 Total Replacement Realizable Product Cost 101 $120,000 $110,000 102 103 104 30,000 28,000 Value 100,000 110,000 50,000 50,000 90,000 60,000 40,000 The normal gross profit percentage is 25% of cost Required (1) Determine the statement of financial position inventory carrying value at December 31 2013 assuming the LCM rule is applied to individual products (Omit the"S sign in your response.) ceiling Floor Designated NRV-NP Market Value Product RC Inventory Value 101 S 102 103 104 110000 40000 S 85000 40000 28000 Totals (2) Assuming that Tatum recognizes an inventory write-down as a separate income statement item determine the amount of the loss. (Input the amount as positive value. Omit the"S sign in your response.)