HALAT browser Olunchthttp%253A%252F252Fwconnected Ch 9 Exercises - Homework 6 Exercise 9-6 (Algo) Lower of cost or market (L09.1) 0.4 point Totum Company has four products in Inventory Information about the December 31, 2021inventory is as follows Product Total cost Total Yotal Net tepla Cost Rest Value 101 1142,00 5129,00 $111.000 103 105, 9,000 129, 303 70,500 47.000 . 104 33,300 39,704 Boom Print The normal profit is 20% of total cost Frances Required: 1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or market LCM rules applied to Individual products 2. Assuming that inventory write-downs are common for Totum Company record any necessary year-end agusting entry Complete this question by entering your answers in the tabs below. Required! Required 2 Determine the carrying value of inventory at December 21, 2021, assuming the lower of color marca (LCMI splet the carrying value of Inventory at December 31, 2021, assuming the lower of cost of market LCM nude s pled to Individual products 2. Assuming that inventory write downs are common for Tatum Company, record any necessary year-end adjusting entry 0.4 points Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Print Determine the carrying value of inventory at December 31, 2021. assuming the lower of cost or market (LCM) is applied to individual products. References Product Total Cost Replacement COSE NRY NAVNP Market Inventory 101 5 102 102 104 142.000 3 105,000 70.500 35.100 354.000 129.000 3 09,000 47,000 38.300 110.000 120,300 50.200 50,700 Totals $ Required 2)