Taturn 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. Complete this question by entering your answers in the tabs below. Determine the carrying value of ending inventory ascuming the fower of cost or net realizable value (KCNRV) rule is applied to indivifual 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. Complete this question by entering your answers in the tabs below. Determine the carrying value of ending inventory assuming the lower of cost or net realizable value (LCNRV) rule is appliod to individual products. Complete this question by entering your answers in the tabs below. Determine the carrying value of ending inventory assuming the lower of cost or net realiz: individual products. Assuming that inventory write-downs are common for Tatum Company, record any ne Note: If no entry is required for a transaction/event, select "No journal entry required" 1 Record any necessary year-end adjusting entry assuming that inventory write-downs are common for Tatum Company. ry write- Note: O= journal entry has been entered