Tatum Company has four products in its inventory. Information about the December 31, 2021, inventory is as follows: Required: . Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is pplied to individual products. 2. Assuming that inventory write-downs are common for Tatum Company, record any necessary year-end adjusting entry. Complete this question by entering your answers in the tabs below. Assuming that inventory write-downs are common for Tatum Company, record any necessary year-end adjusting entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record any necessary year-end adjusting entry assuming that inventory writedowns are common for Tatum Company. Note: Enter debits before credits