2. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjusting entry for each of the LCM applications in requirement 1. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjusting entry for each of the LCM applications in requirement 1. View transaction list View journal entry worksheet No Transaction Inventory General Journal

2. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjusting entry for each of the LCM applications in requirement 1. Complete this question by entering your answers in the tabs below. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjusting entry for each of the LCM applications in requirement 1. 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) individu products, (b) product categories, and (c) total inventory 2. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjusting entry for each of the LC applications in requirement 1 Complete this question by entering your answers in the tabs below. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjusting entry for each of the LCM applications in requirement 1 . Journal entry worksheet 3 Record the year-end adjustment for inventory assuming the lower of cost or net realizable value (LCNRV) rule is applied to product categories. Hote: fiter delita befure credex. Home Stop sells two product categories, furniture and accessories. Information pertoining to its year-end inventory is as follows: Required: 1. Determine the carrying volue of inventory at year-end, assuming the lower of cost or market (LCM) rule is opplied to (o) individue products, (b) product categories, ond (c) total inventory. 2. Assuming inventory write-downs are common for Home Stop, record ony necessary year-end adjusting entry for each of the LC applications in requirement 1 Complete this question by entering your answers in the tabs below. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjusting entry for each of the LCM applications in requirement 1 . Journal entry worksheet Record the year-end adjustment for inventory assuming the lower of cost or net realizable value (LCNRV) rule is applied to total inventory