The inventory of Royal Decking consisted of five products. Information about the December 31, 2021, inventory is as follows: Per Unit Selling Price $160 Product Cost $140 180 A 200 140 180 100 60 D 150 80 Costs to sell consist of a sales commission equal to 10 % of selling price and shipping costs equal to 5 % 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 to units of ending inventory? Per Unit Inventory Value Product Cost NRV 140 A $ B 180 C 140 100 E 60 Tatum Company has four products in its inventory. Information about the December 31, 2021, inventory is as follows: Total Net Realizable Value $112,000 122,000 62,000 62,000 Product Total Cost $144,000 102,000 72,000 42,000 101 102 103 104 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. 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. Required 2 Required 1 Determine the carrying value of inventoly at December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. Inventory Value Product Cost NRV 101 102 103 104 Required 2 > Required Required 1 Required 2 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 fleld.) View transaction list Journal entry worksheet