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Home Stop selis two product categories, furniture and accessories. Information pertaining to its 2021 year-end Inventory is as follows: Quantity Per Unit Cost Market Inventory by Product Category Furniture Chairs Desks Tables Accessories Rugs Laps 20 70 $36 84 95 98298 $.42 69 103 40 50 20 33 59 29 Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) individual products. (b) product categories, and (c) total inventory 2. Assuming Inventory write downs are common for Home Stop, record any necessary year end adjustment amount for each of the LCM applications in tequirement Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Newt Requered 2 Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) individual products, (b) product categories, and (c) total inventory 2. Assuming inventory write downs are common for Home Stop, record any necessary year-end adjustment amount for each of the LCM applications in requirement 1 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the carrying value of Inventory at year end, assuming the lower of cost or market (LCM) rule is applied to (a) Individual products, (b) product categories, and (c) total inventory Product Cost Market Lower of cost or market Dy Individual Dy Product Dy Total Products Categories Inventory Chairs Desks Table 1003 1.000 0,000 1.2005 mo 1.000 1,330 5.650 O 7 210 Required 1 Required 2 Determine the carrying value of Inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) Individual products, (b) product categories, and (c) total inventory. Product Cost Market Lower of cost or market By Individual By Product By Total Products Categories Inventory 1 080 1,000S 1.680 0.050 9.410 15 Furniture Chairs Desks Tables Total furniture Access Rugs Lamps accessories Total 1200 1380 7,210 9,850 1,380 0,050 OOO S IS 9 110 5 2,840 2.300 5,200 14.610 2,360 1.450 5 2.360 16503 4010 13.860 5 5 15 12.920 3.810 12.920 3 13,000 Required)

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